Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Steffan Corporation's April operations, during which 2.000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours Direct material Standard 2 b. $9.50/b Standard Units Costs Total Actual Costs $19 Actual 4200 lb. $10.2016) $42,840 Direct labor Standard 5 hr. $24/3 $12 Actual 1970 hrs. $23.40/hr 22695 Variable head Standard 5 hr sehr) Actual $3 Total 134 6.200 $71,738 Assume that the 4,200 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. Material price Material efficiency Actual Spic Standard cost Laborat Labor efficiency Materials Variances Labor Variances Actual cost: Variable Overhead Variances $ Split cost: Standard cost: $ $ Variable overhead spending $ Variable overhead efficiency $