Problem 11-5 The Hayes Chemical Company produces a chemical used in dry dean Its accounting system uses standard costs. The d labot (1.20 galons of matemal are needed to produce a 0.30 galon can product due to evaporation) The standard cost pronome applied at the rate of $7.97 percan Expected production is 19,700 cans with fed overhead per year of $58.50 and 55.00 e 1 cor1 dado 50- s Dung 2018, 23,600 cans were produced: 32.900 gallons of maten were purchased at a cost of $232.932 5.294,707 based on an average au wage rate of 52 perhat Actual head for 2015 was $207,100 .200 k oma d Determine the standard cost pert (Ho n swer to 2 decimal 1 ) Standard cost perunt NK TO TEXT LINK TO TEXT Calculate matenal, labor and overhead vanances. (Round intermediate calculations to number) decimal places and finalaswers to decimal places 125 atera es p ortive Material Price Venance Materal Quantity Venance Labor Rate Venance Labor toency Vanence Controlable Overhead Varance Overhead Volume Variance Click if you would be to show Work for this questions Open Show Work