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Exercise 16-39 (Algo) Variable Cost Variances (LO 16-5) The records of Norton, Inc. show the following for July. Required: Compute the direct labor and variable

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Exercise 16-39 (Algo) Variable Cost Variances (LO 16-5) The records of Norton, Inc. show the following for July. Required: Compute the direct labor and variable overhead price and efficiency variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

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