I'm Really Cold Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available: Filler Liner Standard labor time Planned production Standard labor rate Actual production Filler Liner Standard Amount per Unit Women's Coats 4.0 lbs. 7.00 yds. 0.40 hr. Women's coats Men's coats Women's Coats 5,000 units $14,00 per hr. I'm Really Cold Coat Company does not expect there to be any beginning or ending inven tories of filler and lining material. At the end of the budget year, I'm Rally Cold Coat Company experienced the following actual results: Men's Coats 5.20 lbs. 9.40 yds. 0.50 hr. Women's Coats 4,400 Actual Price per Unit $1.90 per lb. 8.20 per yd. Standard Price per Unit $2.00 per lb. 8.00 per yd. Men's Coats 6,200 units $13.00 per hr. a. Direct materials price, quantity, and total variance. b. Direct labor rate, time, and total variance. Men's Coats 5,800 Actual Quantity Purchased and Used 48,000 85,100 Actual Labor Rate $14.10 per hr. 13.30 per hr. The expected beginning inventory and desired ending inventory were realized. Actual Labor Hours Used 1,825 2,800 Instructions 1. Prepare the following variance analyses for both coats and the total, based on the actual results and production levels at the end of the budget year: 2. Why are the standard amounts in part (1) based on the actual production at the end of the year instead of the planned production at the beginning of the year?