Problem 2: Heye Inc. has provided the following data concerning one of the products in its standard cost hours. system. Variable manufacturing overhead is applied to products on the basis of direct labor- Standard Quantity Of Hours per Unit of Output 6.7 grams Standard Price Price Inputs Direct materials Direct labor Variable manufacturing overhead or Rate $7.80 per gram $19.00 per hour $8.30 per hour 0.20 hours 0.20 hours The company has reported the following actual results for the product for August: Actual output Raw materials purchased Actual price of raw materials Raw materials used in production Actual direct labor-bours Actual direct labor rate Actual variable overhead rate 6,300 48,100 units grams $7.00 per gram grams hours S20.10 per hour $9.00 per hour 200 1,350 Required: a. Compute the materials price variance for August b. Compute the materials quantity variance for August. c. Compute the labor rate variance for August d. Compute the labor efficiency variance for August. e. Compute the variable overhead rate variance for August. f Compute the variable overhead efficiency variance for August