Koontz Company manufacturers several types of dog toys. The standards relatin one of these products is shown below: Standard Cost per Unit Actual Cost Per Unit Direct Materials: $5.40 $5.94 $16.20 $16.10 Standard: 1.8 feet at $3 per foot Actual: 1.8 feet at $3.30 per feet Direct Labor: B Standard: 0.9 hours at $18 per hour Actual: 0.92 hours at $17.50 per hour Variable Overhead: Standard: 0.9 hours at $5 per hour Actual: 0.92 hours at $4.50 per hour Total cost per unit Excess of actual cost over standard cost per $4.50 $4.14 1526.10 $26.18 Actual production for the month was 12,000 units Required: 1) Compute the following variances: 1) Materials price & quantity variances 2) Labor rate & efficiency variances 3) Variable overhead rate & efficiency variances 2) How much of the $0.08 excess unit cost is traceable to each of the variances computed in (1) above? 3) How much of the $0.08 excess unit cost is traceable to apparent inefficient use of labor time? 4) Do you agree that the excess unit cost is not of concern