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, 10,700 suits were produc The following standard and actual cost data applied to the month of May when normal capacity was 12,500 direct labor hours. All materials purchased were used. Standard (per unit) Actual Cost Element Direct materials 9 yards at $4.80 per yard $456,840 for 97,200 yards ($4.70 per yard) 1.20 hours at $13.00 per hour Direct labor $182,776 for 13,640 hours ($13.40 per hour) Overhead 1.20 hours at $6.50 per hour (fixed $3.70; variable $2.80) $48,400 fixed overhead $36,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $46,250, and budgeted variable overhead was $35,000. Compute the total, price, and quantity variances for1)materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52) (1) Total materials variance Materials price variance Materials quantity variance s (2) Total labor variance Labor price variance Labor quantity variance Compute the total overhead variance. Total overhead variance