Manufacturing Cost Variances Problem Barry's Boxes manufactures a product with the following standard costs: Cardboard #1 (0.5 yards @ $0.50 per yard) $ 0.25 Cardboard #2 (3 yards @ $0.80 per yard) 2.40 Cardboard #3 (0.4 yards @ $0.25 per yard) 0.10 Direct labor (0.25 hours @ $12 per hour) 3.00 Factory overhead (0.25 hours @ $22 per hour. Factory overhead is 2/5 variable and 3/5 fixed.) 5.50 Total standard cost per unit of output $11.25 Standards are based on normal monthly production of 82,000 units. During the month of October the following occurred: Cardboard #1 purchased (41,500 yards @ $0.52 per yard) $ 21,580 Cardboard #2 purchased (261,200 yards $0.87 per yard) 227,244 Cardboard #3 purchased (32,800 yards @ $0.29 per yard) 9,512 Cardboard #1 used (40,300 yards) Cardboard #2 used (276,900 yards) Cardboard #3 used (34,400 yards) Direct labor (22,120 hours @ $11.50 per hour) 254,380 Actual variable factory overhead 196,000 Actual fixed factory overhead 295,000 Units produced during October 84,875 Required: Prepare a variance report including calculations for all material, labor, and overhead variances and appropriate JEs. Your report should include an analysis of and recommendations on the variances incurred during October.