PUMUNE Crane Corporation manufactures a single product. The standard cost per unit of product is shown below. $7.00 19.20 Direct materials-1 pound plastic at $7.00 per pound Direct labor- 16 hours at $12.00 per hour Variable manufacturing over head Fixed manufacturing overhead Total standard cost per unit 12.00 4.00 $42.20 The predetermined manufacturing overhead rate is $10 per direct labor hour($16 -1.6). It was computed from a master manufacturing overhead budget based on normal production of 8.480 direct labor hours (5,300 units) for the month. The master budget showed total variable costs of $63,600 (57.50 per hour) and total fued overhead costs of $21.200(52.50 per hour). Actual costs for October in producing 5.140 units were as follows $39.005 99,162 Direct materials (5,380 pounds) Direct labor (7,870 hours) Variable overhead Fixed overhead Total manufacturing costs 63,360 22,000 $223,527 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. E. EVET (a) Compute all of the materials and labor variances. Total materials variance $ Materials price variance Materials quantity variance $ $ Total labor variance