Exercise 9-10 (Algo) Direct Labor and Variable Manufacturing Overhead Variances [LO9-5, LO9-6] Ene Company manufactures a moble fitness device called the Jogging Mate. The company uses standards to control its costs. The labor staridards that have been set for one Jogging Mate are as follows. Dung August, 9,435 hours of direct labor time were needed to make 19,700 units of the Jogging Mate The direct labor cost totaled $55.667 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 SR) to make 19700 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 $430 per direchabor-hour. During August, the company incurred $47.175 in variable manufacturing overhead cost Compute the variable overhead rate and efficiency variances for the month (For tequirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)