Problem 11-49 Complete Analysis of Cost Varlances; Review of Chapters 10 and 11 (LO 11-5) Chillco Corporation produces containers of frozen food. During April, Chilico produced 805 cases of food and incurred the following actual costs Variable overhead Fixed overhead Actual labor cost (6,600 direct-labor hours) Actual material cost (25,000 pounds purchased and used) $ 7,300 22,90 127.ee se, eee Overhead is budgeted and applied using direct-abor 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 (30 pounds at 52.20 per pound) Variable overhead (6 direct-labor hours at $1.60 per hour) Fixed overhead (6 direct-labor hours at 54 per hour) Total $182.ee 56.ee 9.60 24.00 $201.60 for an hour Annual Budget Information Variable overhead $ 96,000 Fixed overhead $240,000 Planned activity for year 60,00 direct labor hours Required: Compute the following cost variances from the available data (Indicate the effect of each varlance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (.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 efficiency variance Fooed-overhead budget variance Foced-overhead volume variance