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 $7.74 per hour. The company planned to make 8.000 dolls during the year but actually used 12,400 hours of labor to make 8.700 dolls. The payroll amounted to $98,456. Required a. Should labor variances be based on the planned volume of 8,000 dolls or the actual volume of 8.700 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 pilce varlance 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. Should labor variancen be based on the planned volume of 8,000 dolls or the actual volume of 8,700 dollsz 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 $7.74 per hour. The company planned to make 8,000 dolls during the year but actually used 12,400 hours of labor to make 8,700 dolis. The payroll amounted to $98,456. Required 0. Should labor variances be based on the planned volume of 8,000 dolls or the actual volume of 8,700 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 varlance and indicate whether it is favorable (F) or unfavorable (U). d. Compute the labor usage varlance and indicate whether it is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Piepare a table that sbows the standard labor price, the actual labor price, the standard labor hours, and the actual fabor. hours. Note: Round "Standard price" and "Actual price" to 2 decimal ploces. 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 $7.74 per hour. The company planned to make 8,000 dolls during the year but actually used 12,400 hours of labor to make 8,700 dolls. The payroll amounted to $98,456. Required a. Should labor variances be based on the planned volume of 8,000 dolls or the actual volume of 8.700 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. Compute the labor price and labor usage variances and indicate whether they are favorable ( F) or unfavorable (U). Notel Select "None" if there is no elfect (lie, zero variance). Round your final answers to nearest whole dollar