Mountain Mist 3 ounces at $14.60 per ounce 5 hours at $60.40 per hour $48 $364,762 6,620 Valley Stream 4 ounces at $16.90 per ounce 6 hours at $79 per hour $52.90 $399,360 7,800 Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) 4,600 ounces at $13.90 per ounce 5,050 hours at $62.00 per hour $261,550 $331,950 1,040 units 4,800 ounces at $18.25 per ounce 7,450 hours at $79.60 per hour $393,510 $403,500 1,240 units Required: a. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product. (For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Valley Stream Price Variance Efficiency Variance Direct materials $ Mountain Mist Price Variance Efficiency Variance 3,220 F 8,080 U EU Direct labor $ Variable overhead Price Variance Production Volume Variance Price Variance Production Volume Variance Fixed overhead