kindly answer this question.

alcut 33 Copy Paste V 6 Format Painter Clipboard Ii ll No Spacing Heading 1 Heading 2 Suhlille Subtle Emp... Styles \"It certainly is nice to see that small variance on the income statement after all the trouble we've had lately in controlling manufacturing costs,\" said Linda White, vice president of Molina Company. "I'he $12,250 overall manufacturing variance reported last period is well below the 3% limit we have set for variances. We need to congatulate everybody on a job well done.\" The company produces and sells a single product The standard cost (2rd for the product follows: The company produces and sells a single product. The standard cost (aid for the $14.00 product Follows Direct labor. 1.5 direct laborehours at $12.00 per direct laborehour 18.00 Variable overhead, 15 direct laborehours at $2.00 per direct laborehour 3.00 Fixed overhmd, 1.5 direct-labor hours at $6.00 per direct labor hour 900 The following additional information is available for the year just completed: a. The company manufactured 20,000 units of product during the year. b. A total of 78,000 yards of material was purchased during the year at a cost of $3.75 per yard. All of this material was used to manufacture the 20,000 units. There were no beginning or ending inventories for the year. c. The company worked 32,500 direct labor-hours during the year at a cost of 31 1.80 per hour. d Overhead cost is applied to products on the basis of standard direct laborrhours. Data relating to manufacturing overhead costs follow: Required: 1, Compute the dired materials price and quantity variances for the year. 2. Compute the direct labor rate and efciency variances for the year. 3, suppose you got an opportunity to provide a presentation in front of your class through zoorn session for 30 minutes about \"Standard Costing and Variance Analysis through a General Model Approach". How you are going to present the part 1 and 2 through General Model of Variance Analysis? Use your analytical thinking to answer the query while providing maximum details where it is necessary