Material 4 pieces @ $5.50 $22.00 Direct labor 12 hours @ $4.00 48.00 Standard capacity is 5,000 standard productive hours per month. At this volume, budgeted overhead costs are: fixed, $12,000; variable $6,000. This information is used to calculate SR for Variable Overhead and for Fixed Overhead. During a month in which 570 units were completed, the following production costs were incurred. Purchases of material 2,400 pieces @$5.25 Materials issued 2,300 pieces Direct labor payroll 6,900 hours @ $4.50 Overhead costs: Fixed $12,500 Variable $19,300 Be sure to show ALL your work with formulas needed to receive il credit for a correct an Using a 3-way analysis of Overhead variances, what is the Factory Overhead E ncy variance? (4 pts) Material 4 pieces @ $5.50 $22.00 Direct labor-12 hours @ $4.00 48.00 Standard capacity is 5,000 standard productive hours per month. At this volume, budgeted overhead costs are: fixed, $12,000; variable $6,000. This information is used to calculate SR for Variable Overhead and for Fixed Overhead. During a month in which 570 units were completed, the following production costs were incurred. Purchases of material 2,400 pieces @$5.25 Materials issued 2,300 pieces Direct labor payroll 6,900 hours @ $4.50 Overhead costs: Fixed $12,500 Variable 6,800 $19,300 Be sure to show ALL your work with formulas, if needed, to receive full credit for a correct answer Using the 2-way analysis of Overhead variances, what is the Factory Overhead Production Volume variance? (5 pts)