Problem 26-03A a-b (Video) Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2020, 10,500 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 13,000 direct labor hours. All materials purchased were used Cost Standard (per unit) Actual Element Direct materials 7 yards at $4.00 per yard 1.10 hours at $13.00 per hour 1.10 hours at $6.40 per hour (fixed $3.60; variable $2.80) $281,580 for 74,100 yards ($3.80 per yard) $162,810 for 12,150 hours ($13.40 per hour) $49,400 fixed overhead $37,500 variable Direct labor Overhead overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $46,800, and budgeted variable overhead was $36,400 Compute the total, price, and quantity variances for(1) materials and (2) labor (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) (1) Total materials variances Materials price variances Materials quantity variances Total labor variance (2) Labor price variance Labor quantity variance s Compute the total overhead variance. Total overhead variance