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Please answer all please IV: Standard Cost (22 points) Erie Sports Corporation makes a product with the following standard costs: Direct materials: 5 pounds per

image text in transcribedPlease answer all please
IV: Standard Cost (22 points) Erie Sports Corporation makes a product with the following standard costs: Direct materials: 5 pounds per unit of product and $3.5 per pound of material Direct labor: 2 hours per unit of product and $12 per hour Variable overhead: $10 per direct labor hour The company reported the following results concerning this product last month: Units of products produced: 5,400 units Direct materials: 30,100 pounds were purchased and used, and price was S3.7 per pound Direct labor: 11,120 hours were used, and the total cost was $139,600 Variable overhead: total cost was $107,864 a. What was the materials price variance? Ans: S favorable unfavorable (Cirele one) b. What was the materials quantity variance? favorable unfavorable (Circle one) Ans: $ c. What was the variable overhead rate variance? Ans: S favorable unfavorable (Circle one) d What was the variable overhead fficiene varn Ans: $ favorable unfavorable (Circle one)

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