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Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical X. Standards are 0.68 gallons of materials at

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Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical X. Standards are 0.68 gallons of materials at $98.00 per gallon and 5.0 hours of labor at a standard wage rate of $574. During September, Ferry Chemical produced 6,100 gallons of Chemical X. Ferry Chemical purchased and used 3,910 gallons of materials at a total cost of \$394,920. Payroll totaled $144,741 for 26,130 hours worked. Required: 0. Calculate the direct matenals price variance. Note: Do not round your Intermedlate calculations. Inclicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). b. Calculate the direct materials quantity variance Notes Indicote the effect of voriance by selecting "Favorable", "Unfevorable", or "None" for no effect (l.e.f zero variance).) c. Calculate the direct labor rate vanance. Note: Do not round your intermediote calculations. Indicate the effect of varionce by selecting "Favorable?, "Unfovorable", or "None" for no effect (l.e, zero varionce). d. Colculate the direct labor efficiency variance Note: Indicate the effect of varlance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance)

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