Problem 11-49 Complete Analysis of Cost Variances; Review of Chapters 10 and 11 (LO 11-5) Chillco Corporation produces containers of frozen food. During April, Chillco produced 760 cases of food and incurred the following actual costs. Book Variable overhead Fixed overhead Actual labor cont (5.000 direct-labor hours) Retual material cost (20.000 pounds purchased and used) Herences $ 6,400 21,300 87,500 66,000 Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget Information are as follows: Standard Costs per Case Direct labor (6 hours at $17 per hour) Direct material (25 pounds at 52.90 per pound) Variable overhead (6 direct-labor hours at $1.60 per hour) Pixed overhead 16 direct-labor hours at $4 per hour) Total $102.00 72.50 9.60 24.00 5208.10 Annual Budget Information Variable overhead $ 96,000 Fixed Overhead $ 240,000 Planned activity for year 60,000 direct-labor hours Rentrar Required: Compute the following cost variances from the available data. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). Do not round intermediate calculations.) Direct-material price variance Direct-material purchase price variance Direct-material quantity variance Direct-labor rate variance Direct-labor efficiency variance Variable-overhead spending variance Variable-overhead officiency variance Fixed-overhead budget variance Fixed-overhead volume variance Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable Unfavorable Unfavorable