must be in formulas

1. Compute the direct materials price and quantity variances and explain their significance. 2. Compute the direct lsbor rete and efficiency varlances and explain their significance. 3. Compute the variable manufacturing overheed rate and efficiency variances and expiain their significance. HOME NSIRT PAGE LAYOUT FORMULAS DATA REvaw vew A Standards or one of Patterion, ing's products is thown belew, along with actual cout data for the month $2.75 per yard 52.70 per yard 24 yards o Direct labeor $18.00 per hour 22.00 per Iour 7 Standard Actual Variable overhead 0 5 hours e 9 $7.00 per hour $7.10 per hour 4.20 0 5 hours e a Total cost per unit Actual production for te l8 Variable overhead is assigned to products bined en direct labor hour Theve ts win no begining o ending inventory of musfor the month Uning formulas, compute the following Inputil numbers as positive amounts 30 to 147.Use cel Standard Quantity Allowed for Actual output at Standard Price Actual Nours of rate varlance 2 faces of