Ivariance Analysis Jay Co Ltd. makes two kinds of nylon blend string for their tennis racquets. Nylon (the main ingredient) is purchased by the yard then blended with one of their two patented blends to make a Speed string and a Power string (both measured in packs). Jason is concerned about the cost of the string production and has asked you to do a variance analysis given the following information from last year: Actual Types of string (packs): $ $ $ 45,250 DL hours 556,800 Labor cost 198,450 VOH 145,400 yards used Speed 32,000 150,000 yards of nylon purchased 375,000 total cost of nylon 4,600 unused yards - Beg. Inv. Standards Quantity DM 2 yards/pack Speed 0.5 DLhr/pack Power 0.5 Dlhr/pack VOH based on Dlhrs Power 35,000 $ Price 2.40 per yard 13.50 per hr 13.50 per hr 4.50 per hr Material price variance Material quantity variance Actual Quantity of Input @ Standard Price SQ= AQ = AP = TC = Materials price variance: (Select from the dropdown-->) SP = TC = Materials quantity variance: (Select from the dropdown-->) Labor rate variance Actual Labor Hours @ Standard DL Rate AH = AR = TC = Labor rate variance: (Select from the dropdown-->) Labor efficiency variance SH = SR = TC = Labor efficiency variance: (select from the dropdown-->) Actual Labor Hours @ Standard VOH Rate VOH efficiency variance SH = SR = VOH spending variance AH = AR = TC = VOH spending variance: (Select from the dropdown-->) TC = VOH efficiency variance: (select from the dropdown-->) Based on what you found above, what are some ways that Jason could reduce costs