groducer of men's and women's clothing. The company uses standard costs for all of its products. The rd costs and actual costs for a recent period are given below for one of the company's product lines (per unit of product): Duting this period. the company produced 8.000 units of procuct. A compaison of standard and actuat sosts for the period on a fotal. cost basis is also given above: During this period, the company produced 8,000 units of product. A comparison of standard and actual costs for the period on a total cost basis is also given above. There was no inventory of materials on hand to start the period. During the period, 23,200 metres of materials was purchased and used in production. The denominator level of activity for the period was 9,740 hours. Required: 1. For direct materials: 0. Compute the price and quantity variances for the period. (Indicote the effect of each varionce by selecting "F" for fovourable, "U? for unfovourable, and "None" for no effect (i.e., zero varionce).) Journal entry worksheet a. Compute the rate and efficiency variances. (indicate the effect of varionce by selecting "F" for fovouroble, "U" for unfavourable. and "None" for no effect (i.e., zero variance).) b. Prepare a journal entry to record the incurrence of direct iabour cost for the period. (List debit entries first). Journal entry worksheet Record the incurrence of direct labour cost for the period. Notet Enter debits before credits: 3. Compute the variable manufacturing overhead spending and efficiency variances. (lindicate the effect of ench variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).). 4. Compute the fined ovemead budget and volume variances, (indicote the effect of varience by seiecting "F' for favourabie, " U - for unfovourable, and "None" for no effect (i.e., zero voriance)