Farrah's Faucets makes specialty kitchen faucets that it sells to Home Depot and Lowe's. The company has developed the following standard costs for each faucet: - Direct materials: 5sqft. of sheet metal per faucet, $.50 per sq. ft. $2.50 - Direct labor: 2 hrs. per faucet at $12 per hour $24.00 - Variable Overhead: 5 Machine hours at $3 per MH$15.00 - Fixed overhead: ($75,000/25,000 units) $3.00 - Standard Cost per unit $44.50 Farrah's Faucets planned and produced 25,000 faucets. Actual results were: - Purchased 130,000 sq. ft. of sheet metal at a cost of $78,000, used 127,000sqft. in production - Total Direct Labor Cost was $605,000 for 55,000 hours - Variable Overhead was $321,750 for 117,000 machine hours - Fixed Overhead was $71,500 Calculate the direct materials, direct labor, and variable overhead variances. In addition, calculate the fixed overhead price variance and enter all the final answers in the boxes that follow below. Calculate the direct materials, direct labor, and variable overhead variances. In addition, calculate the fixed overhead price variance and