Exercise 11-11 d labor cost to be 2.20 hours per unit at $13.00 per hour. The budget for variable overhead was $8 per unit, and budgeted fixed overhead was $15,000 for the year. Expected annual p the actual cost of labor was $14 per hour. Toy Co Express produced 5,000 units requiring 11,000 direct labor hours. Actual overhead for the year was $51,140. Calculate labor rate and efficiency variances and the controllable overhead variance and the overhead volume variance. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125. Enter all variances as a positive number.) Labor Rate Variance 4 Labor Efficiency Variance 4 Controllable Overhead Variance Overhead Volume Variance Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT Exercise 11-11 Your answer is partially correct. Try again. At the start of 2018, Toy Co Express Company determined its standard labor cost to be 2.20 hours per unit at $13.00 per hour. The budget for variable overhead was $8 per unit, and budgeted fixed overhead was $15,000 for the year. Expected annual production was 6,000 units. During 2018, the actual cost of labor was $14 per hour. Toy Co Express produced 5,000 units requiring 11,000 direct labor hours. Actual overhead for the year was $51,140. Calculate labor rate and efficiency variances and the controllable overhead variance and the overhead volume variance. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125. Enter all variances as a positive number.) Labor Rate Variance 11000 T Unfavorable Labor Efficiency Variance Neither Unfavorable nor Favorable Controllable Overhead Variance 11860 T Favorable Overhead Volume Variance 25000 Unfavorable Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT