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The standard cost sheet for Chambers Company, which manufactures one product, follows: 120 100 Direct materials, 10 yards at $3.00 per yard Direct labor, 4 hours at $25 per hour Factory overhead applied at 85% of direct labor (variable costs - $60: fixed costs525) Variable selling and administrative Fixed selling and administrative Total unit costs 85 72 48 $ 425 Standards have been computed based on a master budget activity level of 29,600 direct labor-hours per month. Actual activity fo past month was as follows: Materials used Direct labor Total factory overhead Production 236.000 yards at $3.10 per yard 24, 100 hours at $26.00 per hour $600,000 5,300 units Required: repare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediat alculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, de elect either option.) Direct materials: Price variance Efficiency variance Direct labor: Materials used Direct labor Total factory overhead Production 2:16. Nyards at 13.10 per yard 22. 10 hours $26.00 hour 1600), Required: Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "P" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Price variance Efficiency variance Price variance Efficiency variance Variable Elliciency variance Fixed overde Production volume variance