Munoz's Doll Company produces handmade dolls. The standard amount of time spent on each doll is 1.50 hours. The standard cost of labor is $763 per hour. The company planned to make 7.200 dolls during the year but actually used 11,300 hours of labor to make 8,200 dolls. The payroll amounted to $89,496. Required a. Should labor variances be based on the planned volume of 7.200 dolls or the actual volume of 8.200 dolls? b. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. c. Compute the labor price variance and indicate whether it is favorable (F) or unfavorable (U). d. Compute the labor usage variance and indicate whether it is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Reg A Reg B Reg C and D Should labor variances be based on the planned volume of 7,200 dolls or the actual volume of 8,200 dolls? Labor vanances should be based on the ReqB> Complete this question by entering your answers in the tabs Req A Req B Req Cand D Prepare a table that shows the standard labor price, the actual labor hours. (Round "Standard price" and "Actual price" to 2 decimal place Labor Variance Information Table Standard labor price per hour Actual price per hour Standard hours for flexible budget Actual hours used