Problem 15- Cheyenne Corporation manufactures a single product. The standard cost per unit of product is shown below. $7,00 Direct materials-1 pound plastic at $7 per pound Direct labor-1.5 hours at $11 per hour Variable manufacturing overhead 16.50 11.25 Foxed manufacturing overhead 3.75 $38.50 Total standard cost per unit The predetermined manufacturing overhead rate is $10 per direct labor hour ($15+ 1.5). It was computed from a master manufacturing overhead budget based on normal production of 7,200 direct labor hours (4,800 units) for the month. The m producing 4,500 units were as folo budget showed total variable costs of $54,000 (57.50 per hour) and total fored overhead costs of $18,000 ($2.50 per hour). Actual costs for October in Direct materials (4,900 pounds) $34,790 Direct labor (6,480 hours) Variable overhead 74,520 52.625 Fixed overhead 19,075 $181.010 Total manufacturing costs The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute all of the materials and labor variances. (Round answers to 0 decimal places, e.g. 125.) Total materials variances Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance Compute the total overhead variance. Total overhead variance