Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its

costs.

Erie Company manufactures a mobile fitness device called the Jagging Mate. The campary uses standards to control its costs. The labor standards that Have been set far one Jogging Mate are as fallows: Standard Hours 30 minutes Standard Rate Standard per Hour 6.20 Cost 3.10 During August. 10,430 hours of direct labor time were needed to make 19,600 units of the Jogging Mate. The direct labor cost totaled S63,623 for the month. Required: 1 What is the standard labor-hours allowed (SH) to makes 19,600 Jogging Mates? 2 What is the standard labor cost allowed (SH x SR) to make 19,600 Jogging Mates? 3. What is tte labor spending variance? 4. What is tte labor rate variance and tte labor efficiency variance? 5 The budgeted variable manufacturing overhead rate is S4 50 per direct labor-hour. During August. the company incurred S56,322 in variable manufacturing overhead cost Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5, indicate the effect of each variance by selecting 'F" for favorable, "U' for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Standard labor-hours allowed Standard labor cost allowed Labor spending variance Labor rate variance Labor efficiency variance Variable overhead rata variance Variable overhead efficiency variance