For the month of August, calculate the following variances (assuming the standard labor rate is $0.92 per hour):

• Material price variance for flash memories
• Material usage variance for flash memories
• Labor rate variance
• Labor usage (efficiency) variance
• Overhead spending variance

Bill of materials (per unit) Purchased chips: Flash memory (Sa msung) Application processor (Samsung) Chip for phone calls {lnfinion) Gyroscope (STMicoelectronics) 8 other purchased chips Variable supplies and tools Labor: Assembly and packaging (per unit) Shipping (per unit) Total Standard Cost per Unit 27.00 10.75 14.05 2.60 70.95 S 125.35 62.54 5 187.89 5 13.11 S 1.06 s 202.06 Monthly Budget Actual Variance Units 200,000 180,000 20,000 U Revenue (transfer from Shenzhen) $ 41,240 $ 37,476 $ 3,764 U Variable costs Materials Flash memory $ 5,400 S 5,249 151 F Application process 2,150 1,935 215 F Chips - phone 2,810 2,529 281 F Gyroscope 520 468 52 F 8 other chips 14,190 12,643 1,547 F Variable supplies and tools 12,507 11,305 1,202 F Subtotal S 34,129 3,448 F Labor Assembly and packaging 2,622 3,092 470 U Shipping 212 191 21 F Total variable costs $ 40,411 $ 37,412 $ 2,999 Fixed costs Factory rent 400 $ 400 Machine depreciation 150 150 Utility fee and taxes 52 52 Supervision 127 134 7 U Total fixed costs $ 729 736 un 7 U Total costs S 41,140 38,148 S 2,992 F Net income $ 100 $ (672) $ 772 U