Problem 11-5 The Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The standards per 0.60-gallon can of chemical call for 1.10 gallons of material and 1.40 hours of labor. (1.10 gal product due to evaporation. The standard cost per gallon of material is $6.00. The standard cost per hour for labor is $9.00. Overhead is applied at the rate of $8.10 per can. Expected production is 18,500 cans with fixed overhead per year of $38,850 and variable overhead of $6.00 per unit (a 0.60-gallon can). During 2018, 22,300 cans were produced; 35,500 gallons of material were purchased at a cost of $255,245; 28,600 gallons of material were used in production. The cost of direct labor incurred in 2018 was $257,754 based on an average actual wage rate of $7.98 per hour. Actual overhead for 2018 was $216,700. Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.) Standard costs per unit LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Calculate material, labor, and overhead variances. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to o decimal places, e.g. 125. Enter all variances as a positive number.) Material Price Variance 42245 T Unfavorable Material Quantity Variance 24420 T Unfavorable Labor Rate Variance 32946| Favorable Labor Efficiency Variance 9720 Unfavorable Controllable Overhead Variance 66850 Unfavorable , Overhead Volume Variance 30780 Favorable Click if you would like to Show Work for this question: Open Show Work