Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May The production superintendent was pleased whenfhe saw this report and commented: "This $0.65 excess cost is well within the 4 percent imit manogement has set for acceptable variances ir's obvious that there's not much to worry about with this product." Actual production for the month was 19,500 units Variable overhead cost is assigned to products on the basis of direct taborchours There were no beginning or ending inventorles of materials. Required: 1 Compute the following variances for May a. Materials price and quantity variances. b. Labor rate and efficiency variances. c. Variable overhead rate and effieiency variances 2 How much of the $0.65 excess unit cost is traceabie to each of the vanances computed in requirement 1 3. How much of the 50.65 excess unit cost is traceable to apparent inefficient use of lobor time? 1a. Compute the following variances for May, materials price and quantity variances. 1b. Compute the following variances for May, labor rate and efficiency variances. 1c. Compute the following variances for May, variable overhead rate and efficiency vari variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect (i. positive values.) How much of the $0.65 excess unit cost is traceable to apparent inefficient use of labor time? (Indicate the effi variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input positive values. Do not round intermediate calculations. Round your final answers to 2 decimal places.) How much of the $0.65 excess unit cost is traceable to each of the variances computed in requirement 1 . of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variar amounts as positive values. Round your answers to 2 decimal places.)