Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Actual Costs 505 units Spending Variance Flexible Budget 505 units Volume Variance Master Budget 200 units $ $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 18,300 29,000 11,050 14,300 72,650 16,800 24,800 10.800 12,400 64,800 $ $ GA $ Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: Direct materials Direct labor SQ 1.2 pounds 0.8 hours SP $ 1.50 per pound $12.00 per hour During the month of May, the company made 700 cakes and incurred the following actual costs. Direct materials purchased and used (1,000 pounds) $1,300 Direct labor (760 hours) $8,740 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials variance. 4. Calculate the direct labor rate variance. 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 1. Direct materials price variance 2. Direct materials quantity variance 3. Total direct materials spending variance 4. Direct labor rate variance 5. Direct labor efficiency variance 6. Total direct labor spending variance Beverly Company has determined a standard variable overhead rate of $2.90 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,150 actual direct labor hours in the production of 2,400 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Variable Overhead Rate Variance Variable Overhead Efficiency Variance Over- or Underapplied Variable Overhead