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Please help explain how to compute the variances below from 1-6. Orville Compam/s standard and actual costs per unit are provided below for the most

Please help explain how to compute the variances below from 1-6.

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Orville Compam/s standard and actual costs per unit are provided below for the most recent period. During this 400 units were actually produced. Materials: Standard: 2 $1.50 per m. Actual: 2.1 mgtwat $1.60 per m. Direct Standard: 1.5 hrs. at $6_00 per hr. Actual: 1.4 hrs. at $6.50 per hr. Variable overhead: Standard: 1.5 hrs. at $3_40 per hr. Actual: 1.4 hrs. at $3.10 per hr. Total unit cost Standard $3.00 5.10 Actual $3.36 9.10 4.34 For simplicity, assume there was no inventory of materials at the beginning or end of the period. Required: Given the information above, compute the following variances. Also indicate the variances are favorable or unfavorable. I) 2) 3) 4) 5) 6) Materials price variance Materials quantity variance Direct@eycrate variance Direct 'Aheycefficienck/ variance Variable overhead spending variance Variable overhead efficiency variance

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