Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Kiosse Corporation's May operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs Direct material Standard (3 lb. $2.00/1b.) Actual (6,200 lb. $2.20/1b.) $13,640 Direct labor Standard (0.5 hr. 514/hr.) Actual (980 hrs. @ $13.70/hr.) 13,426 Variable overhead Standard (0.5 hr. @ $4/hr.) Actual 4,200 Total $15 Assume that the 6,200 lb. of materials purchased were all used in producing the 2,000 completed units. Determine the materials price and efficiency variances, labor rate and efficiency variances, and variable overhead spending and efficiency variances. Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: $ Split cost: Standard cost $ Materials price Materials efficiency $ Labor Variances 0 Actual cost: Split Cost: Standard cost: 5 Labor efficiency 5 Variable Overhead Variances Actos Spln cast Standard cost Variable overhead spendings Variable overhed efficiency 5