Fig and Love makes monogrammed Christmas stockings that it sells online. The company has developed the following standard costs for each stocking: - Direct materials: 5 yards of velvet material, $12 per yard $ 60.00 Direct labor: 2 hrs. per stocking at $15 per hour$ 30.00 . Variable Overhead: 3 Machine hours at $5 per MH$ 15.00 Fixed overhead: ($40,000/2,000 stockings) $ 20.00 . Standard Cost per unit $ 125.00 They planned for and made 2,000 stockings. Actual results were: Purchased 12,000 yards and used 11,000 yards of material at a total cost of $162,000 Total Direct Labor Cost was $58,500 for 4,500 hours Variable Overhead was $19,140 for 5,800 machine hours Fixed Overhead was $38,000 B . Calculate the direct materials, direct labor, and variable overhead variances. In addition, calculate the fixed overhead price variance and enter all the the boxes that follow below. Variance Type: Direct materials price variance Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Variable OH price variance Variable OH efficiency variance Fixed OH price variance Amount: Favorable (F) / Unfavorable (U)

Fig and Love makes monogrammed Christmas stockings that it sells online. The compary has developed the following standard costs for each stocking: - Direct materials: 5 yards of velvet material, $12 per yard $6000 - Direct labor 2 hrs per stocking at $15 per hour\$ 30.00 - Variable Overhead 3 Machine hours at $5 per MH 15.00 - Fixed overhead: (\$40,000/2,000 stockings)\$ 20,00 - Standard Cost per units 125,00 They planned for and made 2,000 stochings Actual results were - Purchased 12,000 yards and used 11,000 yards of material at a total cost of $162,000 - Total Direct Labor Cost was $58,500 for 4,500 hours - Variable Overhead was $19,140 for 5.800 machine hours - Foced Overhead was $38.000 Calculate the direct materials, direct labor, and variable overhead variances. In addition, calculate the fuced overkead price variance and enter all the the boxes that follow below