Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Brown 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. @ $4.00/lb.) Actual (6,400 lb. @ $4.30/lb.) $12 $27,520 Direct labor Standard (0.5 hr. @ $16/hr.) $8 Actual (950 hrs. @ $15.80/hr.) 15,010 Variable overhead Standard (0.5 hr. @ $6/hr.) Actual $3 6,300 Total $23 $48,830 Determine the following 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 Actual cost: Split cost: Standard cost: $ Labor rate $ Labor efficiency $ Variable Overhead Variances Actual cost: $ Split cost: $ Standard cost: $ Variable overhead spending $ Variable overhead efficiency $