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 Standard Cost per Unit Actual Cost per Unit $ 5.40 $5.94 16.20 Direct materials: Standard: 1.80 feet at $3.00 per foot Actual: 1.80 feet at $3.30 per foot Direct labor: Standard: 0.90 hours at $18.00 per hour Actual: 0.92 hours at $17.50 per hour Variable overhead: Standard: 6.9 hours at 55.00 per hour Actual: 0.92 hours at $4.50 per hour Total cost per unit Excess of actual cost over standard cost per unit 16.10 4.50 $26.10 526.10 50.08 Actual production for the month was 12,000 units. Variable overhead cost is assigned to products on the basis of direct labor-hours. There were no beginning or ending Inventories of materials Required: Compute the following variances for May a. Materials price and quantity variances b. Labor rate and efficiency variances c. Variable overhead rate and efficiency variances Complete this question by entering your answers in the table below. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance), Input all amounts as positive values, and if there is zero variance simply leave the numeric field blank and select "None" for the effect.) Required Materias prie vanance Labor revance Labor efficiency variance Vanable overhead rate variance Variable overhead officiency variance