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s t the rate of $15375 per can. Expected prodlk 835.000 and varae owrbead of S11 per unit la S lter can) Durng 2018, 7,800 cans were producedi 13,000 liters of material were purchased at a cost matcrial were used in production. The cost of darect labor incurred Actual overhead for in 2018 was 5376,250, based on an average actual wage rate of $11 per hout 2018 was $125.000 REQUIRED a Determine the standand cost per unit. Round to the nearest cent & Calculate moterial, labor, and owerbead variances c. List a possible cauve for each variance PROBLEM 11-7. Comprehensive Variance Problem ILO 1,2 Danke's Protein Powder produces a dietary supplement. The standard cost of prodacing one unit is Maserial (1.25 pounds x $250) Labor ( 1.2 hours x $10 313 1200 11.00 52673 Overhead Total Standard variable overhead is $8.00 per unit, and fixed annual overhead is $90,000. At the start of 2018, espected production was 25,000 units During 2018, 30.000 units were produced. The fouowing information, related to actual costs incurred in 2018, is available 1. Purchased 40,000 pounds of material for 585,000. 2. Used 38,750 pounds of material 3. Worked 35,300 labor hours costing 5375,000 4. Actual overhead incurred was $327.000 REQUIRED a. Show the calculation of the standard overhead rate per unit b. Cakculate all material, labor, and oveshead variances. c. Prepare a variance summary, and briefly comment on variances that should be investigated