Question 4 of 8 View Policies Current Attempt in Progress Bonita Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $8.00 per pound $8.00 Direct labor-1.00 hours at $11.30 per hour 11.30 7.00 -/4 Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit 7.00 $33.30 The predetermined manufacturing overhead rate is $14 per direct labor hour ($14.00 +1.00). It was computed from a master manufacturing overhead budget based on normal production of 5,400 direct labor hours (5.400 units) for the month. The master budget showed total variable costs of $37,800 ($7.00 per hour) and total fixed overhead costs of $37,800 ($7.00 per hour). Actual costs for October in producing 3,000 units were as follows. Direct materials (3.120 pounds) $25,272 Direct labor (2.850 hours) 32,775 Variable overhead 31,918 Fixed overhead 12.182 Total manufacturing costs $102,147 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. (a) 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. (a) Compute all of the materials and labor variances Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance Labor quantity variance $ (b) Compute the total overhead variance. Total overhead variance $ leTextbook and Medial eTextbook 1 eTextbook 2 Video Assistance Used