KAYAK Corporation makes a kayak with the following standard costs per unit produced: Actual Results: 12,250 units produced Direct material - Actually purchased 35,000lbs for a total cost of $131,250 Direct Labor - Actual worked 15,000 hours at an average labor rate of $19.75 Overhead Cost - Actual overhead costs was $35,250 allocated based on actual direct labor hours Required: a. Compute the total product cost (standard and actual) and calculate product cost variance (7pts) b. Compute the total materials quantity variance. (3pts) c. Compute the materials price variance. (3pts) d. Compute the total labor efficiency variance. (3pts) e. Compute the labor rate variance. (3pts) f. Compute the total variable overhead efficiency variance. (3pts) g. Compute the variable overhead rate variance. (3pts)