KAYAK Corporation makes a kayak with the following standard posts per unit produced Direct Materials Direet Labor Mfg OH Standard Quantity/Efficiency 3.0 lbs per unit produced 50 hrs per unit produced 50 per unit produced Standard Price/Rate $5.00 per lb $20.00 per her $3.50 per hr Actual Results 11,500 units produced Direct material - Actually purchased 32,000 lbs for a total cost of $137,600 Direct Labor-Actual worked 6,250 hours at an average labor rate of $19.00 Overhead Cost - Actual overhead costs was $20,313.50 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)