Reliance, Inc. utilizes a standard cost system for budget and control purposes. Flexible budgets are determined and all overhead cost items are assigned on the basis of standard direct labor hours. The following standard cost per finished unit was determined on the basis of a projected monthly normal production for 2020: Direct materials (3 pounds @P6.00) Direct labor (0.30 hour @P40.00) Variable overhead (0.30 hour @P10) Fixed overhead (0.30 hour @P6-2/3) Total P18.00 12.00 3.00 2.00 P35.00 You have just received the condensed performance report for the month of Sept., 2020. VARIANCE ANALYSIS Standard Costs Price or Quantity Capacity Rate or time or Applied Variances Efficiency Direct materials used P162,000 P14,000 F P6,000 U Direct labor costs 108,000 *18,200 U 1,200 U Variable overhead 27,000 5,250 U 300 U Fixed overhead 18,000 1,500 U P4,000** U *Includes labor joint variance. **Includes overhead capacity variance & fixed overhead efficiency variance 240 REQUIRED: 1. Determine the following graphically for: a. Actual cost per pound of raw materials b. Actual number of pounds used up rounded to the nearest whole pound c. Standard number of pounds allowed the actual production d. Actual labor rate per hour e. Actual number of hours used up f. Standard number of hours allowed the actual production g. Actual number of units produced (double-check) h. Normal production in units and hours i. Actual fixed overhead j. Actual variable overhead Note: Start with the skeletons of the visual aids & the flexible overhead budget