Prompt Evaluate the standard and actual cost sheets provided to calculate direct product costs for AHC. Allocate the overhead cost and provide a detailed variance analysis including both rate and volume variances for labor, raw materials, and factory overhead. First, calculate the standard dollar costs for the units of output. Then provide a detailed analysis using all six variances. Required: Compute the standard dollar costs for the units of output. Compute AHC factory overhead volume variance. Compute a detailed analysis of AHC Labor using both rate and volume variance. Compute a detailed analysis of AHC Raw materials using both rate and volume variance. Compute a detailed analysis of AHC Factory Overhead using both rate and volume variance. Production & Cost Description Annual Production Production & Cost Amounts 1500 shoulder bags 2000 wallets 1000 buckle bags 1 shoulder bag 12" W x 15" H x 8" D Raw materials in inches per unit (Width x Height x Depth - Volume) 1 wallet-6" W x 10" H x 5" D Raw materials price per unit volume Assembly labor time (hours per unit) Labor pay rate Assembly department overhead per direct labor hour Color dying process machine hours (MH) Painting department overhead per MH Sales price Fixed Cost Variable SG&A Fixed SG&A 1 buckle bag 13" W x 16" H x 10" D $1 per foot 1 shoulder bag 4 hours 1 wallet 2 hours 1 buckle bag = 4 hours $20 per hour $10 1 shoulder bag 0.5 MH 1 wallet = 0.5 MH 1 buckle bag 0.5 MH $20 1 shoulder bag $210 1 wallet = $140 1 buckle bag = $210 $10,000 $3 per unit for all three types (bags, wallets, buckles $25,000 Actual amount of material purchased and used The actual cost of material purchased and used The actual amount of direct labor hours The actual cost of direct labor Actual production in units Actual overhead spending Raw materials price per unit 9.990.000 inches $832.500 20.000 $450,000 Shoulder bags=3,775 Wallets 3.829 Buckle Bags 2.380 $378,773 $0.95 per foot