Exercise 16-38 (Algo) Variable Cost Varlances (LO 16-5) The following data reflect the current month's activity...

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Exercise 16-38 (Algo) Variable Cost Varlances (LO 16-5) The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour Variable overhead is applied based on standard direct labor-hours allowed. Required: $694,875 37,500 36,200 $ 17,625 F $167,350 $ 4.50 Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor. Price variance Efficiency variance Variable overhead: Price variance Efficiency variance Exercise 16-38 (Algo) Variable Cost Varlances (LO 16-5) The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour Variable overhead is applied based on standard direct labor-hours allowed. Required: $694,875 37,500 36,200 $ 17,625 F $167,350 $ 4.50 Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct labor. Price variance Efficiency variance Variable overhead: Price variance Efficiency variance