Problem 11-6 XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per 0.5-liter can of solution call for 0.75 liters of material and 4 hours of labor. (0.75 liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.5. The standard cost per hour for labor is $12.40. Overhead is applied at the rate of $15.12 per can. Expected production is 8,400 cans with fixed overhead per year of $32,592 and variable overhead of $11.24 per unit (a 0.5-liter can). During 2015, 7,520 cans were produced; 12,700 liters of material were purchased at a cost of $57,150; 10,110 liters of material were used in production. The cost of direct labor incurred in 2015 was $350,784, based on an average actual wage rate of $10.44 per hour. Actual overhead for 2015 was $122,000.

Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.)

Calculate Controllable Overhead Variance and Overhead Volume Variance.