KAYAK Corporation makes a kayak with the following standard costs per unit produced: Actual Results: 12,250 units produced Direct material - Actually purchased and used 35,000lbs for a total cost of $131,250. Direct Labor - Actually worked 14,000 hours at an average labor rate of $20.25/hr. Variable Overhead Cost - Actual variable overhead costs were $42,000 allocated on direct labor hours Required: a. Compute total production costs, standard and actual, and calculate total production cost variance b. Compute the total materials cost variance and determine how much is driven by quantity variance and how much by price variance. c. Compute the total labor cost variance and determine how is driven by efficiency variance and how much by rate variance. d. Compute the total overhead cost variance and determine how much is driven by overhead efficiency variance and how much by rate variance