Problem 23-7A Costello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials2 pound plastic at $6.94 per pound $ 13.88 Direct labor1.00 hours at $11.00 per hour 11.00 Variable manufacturing overhead 6.50 Fixed manufacturing overhead 3.50 Total standard cost per unit $34.88 The predetermined manufacturing overhead rate is $10 per direct labor hour ($10.00 1.00). It was computed from a master manufacturing overhead budget based on normal production of 5,100 direct labor hours (5,100 units) for the month. The master budget showed total variable costs of $33,150 ($6.50 per hour) and total fixed overhead costs of $17,850 ($3.50 per hour). Actual costs for October in producing 4,600 units were as follows. Direct materials (9,310 pounds) $ 67,125 Direct labor (4,420 hours) 49,902 Variable overhead 34,960 Fixed overhead 12,950 Total manufacturing costs $164,937 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 the overhead controllable variance and the overhead volume variance. Overhead controllable variance $Entry field with incorrect answer Entry field with incorrect answer now contains modified data Overhead volume variance $Entry field with incorrect answer Entry field with correct answer