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Question 16 30 pts PROBLEM. Please show your computations to receive full credit Ferry Chemical uses a standard cost system to account for the costs of its production of Chemical X. Standards are 1.5 gallons of materials at $105 per gallon and 10 hours of labor at a standard wage rate of $11. During September, Ferry Chemical produced 2,600 gallons of Chemical X. Ferry Chemical purchased and used totaled 3,560 gallons at a total cost of $381,180. Payroll totaled $302,730 for 25,430 hours worked. Calculate the following variances. i direct materials price variance ii. direct materials quantity variance di direct materials total (spending) variance iv. direct labor rate variance v direct labor efficiency variance vi. direct labor total (spending) variance Edit View Insert Format Tools Table