PE7-1A Direct materials variances OBJ. 3 Lo-bed Company produces a product that requires two standard gallons per unit. The standard price is $20.00 per gallon. If 4,000 units required 8,200 gallons, which were purchased at $19.75 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? PE7-2A Direct labor variances Lo-bed Company produces OB).3 a product that requies four sandad hours per unit at a san- dard hourly rate of $28.00 per hour. I 4,0 units required 16,750 hours at an houry rate of $28-40 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? 0BJ.4 PE 7-3A Factory overhead controllable variance Lo-bed Company produced 4,000 units of product that required four standard hours per unit. The standard variable overhead cost per unit is $3.00 per hour. The actual variable fac- tory overhead was $51,240. Determine the variable factory overhead controllable variance. 0BJ.4 PE7-4A Factory overhead volume variance Lo-bed Company produced 4,0 unis of productha recquired four sandard hours per unit. The standard fixed overhead cost per unit is $1.20 per hour at 16,00 hours, which of normal capacity. Determine the fixed factory overhead volume variance