Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) 17, 980 Variable manufacturing overhead cost $ 57, 890 Fixed manufacturing overhead cost $161, 580 The standard cost card for the company's only product is given below: (1) (2) Standard Standard Standard Quantity Price Lost Inputs or Hours or Rate (1) * (2) Direct materials 4 yards 2. 20 per yard 1 8.80 Direct labor 2 hours $ 8. 60 per hour 17.20 Manufacturing overhead 2 hours 12.90 per hour 25.80 Total standard cost per unit $ 51.80 During the year, the company produced 8,840 units of product and incurred the following actual results: Materials purchased, 56, 108 yards at $2.10 per yard $ 117, 818 Materials used in production (in yards) 36, 450 Direct labor cost incurred, 18,080 hours at $8.20 per hour $ 147, 608 Variable manufacturing overhead cost incurred 57, 408 Fixed manufacturing overhead cost incurred $ 117, 809 Required: 1. Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhe per unit. 2. Compute the materials price and quantity variances. Also, compute the labor rate and efficiency variances. 3. Compute the variable overhead rate and efficiency variances. Also, compute the fixed overhead budget and volume variances