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) Variable manufacturing overhead cost 5,000 $25,000 $ 59,000 Fixed manufacturing overhead cost The standard cost card for the company's only product is given below Standarcd Quantity or Hours Standard Price or Rate 3 yards4.40 per yard 13.20 Standard Cost Inputs Direct materials Direct labor Manufacturing overhead hour 12 per hour 1 hour 16.80 per hour 12.00 16.80 42.00 Total standard cost per unit During the year, the company produced 6,000 units of product and incurred the following actual results Materials purchased, 24,000 yards at $4.80 per yard Materials used in production (in yards) Direct labor cost incurred, 5,800 hours at $13 per hour Variable manufacturing overhead cost incurred Fixed manufacturing overhead cost incurred $ 115,200 18,500 $ 75,400 $ 29,580 $ 60,400 Required: 1. Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhead 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 Required 1Required 2 Required 3 Required1 Create a new standard cost card that separates the variable manufacturing overh overhead per unit. (Round your answers to 2 decimal places.) 3.00 yards 30 DLHs 12.00 Direct materials S4.40per at ard per DLH Direct labor Variable manufacturing overhead Fixed manufacturing overhead Standard cost per unit 1.00 DLHs |$5.000 DLHs per DLH $0.00 Required 1Required 2Required 3 Compute the materials price and quantity variances. Also, com effect of each variance by selecting "F" for favorable, "U" for un all amounts as positive values.) Materials variances Price variance $ 7,400 x U Quantity $2,200 variance Labor variances: Rate variance Efficiency $ 5,800U 9,600 variance Required1Required 2Required 3 Compute the variable overhead rate and efficiency varia (Indicate the effect of each variance by selecting "F" for variance.). Input all amounts as positive values.) Variable overhead variances: Rate variance Efficiency $ 58,011 X U $ 26,500F variance Fixed overhead varianc Budget variance 1,400 Volume s 9,400 OF variance