Exercise 9-10 (Algo) Direct Labor and Variable Manufacturing Overhead Variances (LO9-5, LO9-6) 1 points Erie Company manufactures a mobile fitness 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: Standard Rate Standard Standard Hours per lour Cost 27 minutes $5.60 $2.52 During August. 9,430 hours of direct labor time were needed to make 19,400 units of the Jogging Mate. The direct labor cost totaled $51.865 for the month ook Hint Required: 1 What is the standard tabor-hours allowed (SH) to makes 19,400 Jogging Mates? 2. What is the standard labor cost allowed (SHSR) to make 19,400 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 manufacturing overhead rate is $4,50 per direct labor hour. During August, the company incurred $50,922 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the onth (For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Do not round Intermediate calculations.) Standard labor hours lowed 2. Standard labor con lowed 3. Labor sending and 4. Laboratoare 4 Labor ciency wariance 5 Variatie over de variance Variable vedecency variance