Jimmy K. makes a product with the following standards costs: Direct materials Direct labor Variable overhead standard Quantity or Hours Standard Price or Rate 12.4 grams $10.00 per gram 0.6 hours $20.00 per gram 0.6 hours $5.00 per gram The company reported the following results concerning this product in July Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchas Actual direct labor-hours Actual variable overhead cost 5400 units 17430 grams 18600 grams 590 hours 153820 14629 7430! The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases is computed when the materials are purchased Required: a. Compute the materials quantity variance b. Compute the materials price variance c. Compute the labor efficiency variance d. Compute the labor rate variance e. Compute the variable overhead efficieny variance f. Compute the variable overhead rate variance