For the following eight questions, use the information below. At the begining of the year, REO Corporation ("the Company), a manufacturer of the famous "Ridin' the Storm Out" dog thunder jacket, had an expected production level of 5.000 units for the year. Additionallv, the Comnanvistablished the following standards: The Company is now in the process of analyzing its results as of the end of the period against the standards established at the beginning of the period. Information regarding the Company's actual results is as follows: - The actual production for the period was 4,800 units. - The Company purchased 25,440lb. of direct materials at a price of $10.75 per lb. - The Company incurred a total of 32,160 direct labor hours at $16 per hour. - The Company's variable and fixed manufacturing overhead amounts were $56,000 and $237,000, respectively. Manufacturing overhead is allocated on a per-unit basis. Reauired: (20 Points - 2.5 Points Each) Considering all of the nrevinuc information comnute - The actual production for the period was 4,800 units. - The Company purchased 25,440lb. of direct materials at a price of $10.75 per lb. - The Company incurred a total of 32,160 direct labor hours at $16 per hour. - The Company's variable and fixed manufacturing overhead amounts were $56,000 and $237,000, respectively. Manufacturing overhead is allocated on a per-unit basis. Required: (20 Points - 2.5 Points Each) Considering all of the previous information, compute the following variances for direct materials, direct labor, and manufacturing overhead. For each question below, select the closest answer. Question 15 2.5pts What is the direct materials price variance? $31,800 unfavorable $31,800 favorabic $30,000 unfavorable $30,000 favorable Question 16 2.5 pts What is the direct materials quantity variance? $15,480 favorable $17,280 favorable $17,280 unfavorable What is the direct materials volume variance? $12,000 favorable $11,395 favorable $11,395 unfavorable $12,000 unfavorable Question 18 2.5pts What is the direct labor rate variance? $64,320 unfavorable $72,000 unfavorable $72,000 favorable $64,320 favorable What is the direct labor efficiency variance? $69.120 unfavorable $61,440 unfavorable $61,440 favorable $69.120 favorable Question 20 2.5pts What is the direct labor volume variance? $27,000 unfavorable $21,440 unfavorable $21,440 favorable $27,000 favorable Question 21 2.5pts What is the overhead spending variance? $11,000 favorable $24,800 favorable $24,800 unfavorable What is the overhead spending variance? $11,000 favorable $24,800 favorable $24,800 unfavorable $11,000 unfavorable Question 22 What is the overhead volume variance? $9,000 unfavorable $1,800 favorable $1,800 unfavorable $9,000 favorable