Jones Jean Co. produces no-name jeans. For the month of July, the company planned on making 25,000 pairs. The standard production and cost data are as follows: Direct materials, 3 yds @ $6 per yd. Direct labor, 1.5 hr @$16 per hour Variable Overhead, @$4 per DLH Total Standard Cost Total estimated Fixed OH The fixed OH rate is calculated based on the number of pairs expected to be produced. $18 24 6 $48 $185,000 During July, actual production was 28,000 pairs of jeans and the following production data is available: Direct materials purchased and used Direct labor Variable OH Fixed Overhead Required (5 points each): 1. Compute the total material variance 2. Compute the material price variance 3. Compute the material quantity variance 4. Compute the total labor variance 5. Compute the labor price variance 6. Compute the labor quantity variance 83,000 yds. @ $5.85 per yd 42,500 hrs @ $15.90 per hour $190,500 $360,000