Exercise 9-10 (Algo) Direct Labor and Variable Manufacturing Overhead Variances [LO9-5, LO9-6] Erie Company manufactures a mobile faness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: During August, 9,465 hours of direct labor time were needed to make 19700 units of the Jogging Mate. The direct labor cost totalod $57,737 for the month. Required: 1. What is the standard labor-hours allowed (SH) to makes 19,700 Jogging Mates? 2. What is the standard labor cost allowed (SH = \$ SA) to make 19,700 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manutacturing overtead rate is $4.30 per direct labon-hour, During August, the company incurred $45,432 in variable manufacturing owerhead cost. Compute the variable overthead rate and efficiency variances for the montr. (For requirements 3 through 5 , indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (l.e., rero variance), Input all amounts as positive values. Do not round intermediate calculations.)