Genie in a bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 twiter bottles are as follows Standard Cost Cost Category per 100 Two-Liter Bottles Direct labor $1.46 Direct materials 5:32 Factory overhead 0.4 Total $7.18 At the beginning of July, GBC management planned to produce 420,000 bottles. The actual number of bottles produced for July was 453.600 boties. The actual costs for July of the current year were as follows: Actual Cost for the Cost Category Month Ended July 31 Direct labor $6,490 Direct materials 23.552 Factory overhead 1,833 Total $31,875 Enter all amounts as positive numbers 2. Prepare the y manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for WBC, assuming planned production Genie in a Bottle Company Manufacturing Cost Budget For the Month Ended March 31 Standard Costa Planned Volume (420,000 Bottles) Manufacturing costs: Direct labor Direct materials Factory overall b. Prepare a budoet performance report for manufacturing costs, showing the total contract for direct materies, crect to and factory overhead for vinter a favorable arunce a negative number wing minus sign and for the variance as a positive number found your awers to two decorat places Genie in a lotte Company Manufacturing Costs-Budget Performance Report For the Month Ended March 31 Standard Cost Cost at Actual Variance Actual Volume (453,600 (Pavorable) Bottles) Costs Unfavorable Manufacturing costs: Director Direct materials Factory overhead Total manufacturing cost than budgeted direct labor and direct material cost variances more than offset a small actory The Company's actual costs were $693.48 overhead cost variance