REQUIRED: Calculate the following manufacturing cost variances for the company Show all supporting calculations. Direct materials price variance (I) Direct materials quantity variance. (2) Direct labor price (rate) variance. (3) (4) Direct labor quantity (efficiency) variance. (5) Variable manufacturing spending (price) variance. Variable manufacturing efficiency (quantity) variance. (6) Fixed manufacturing spending (price) variance. (7) (8) Fixed manufacturing volume variance. od0 Brauklandsr Problem 1 as points Versailles Company prodaces peodoct that reies on a stdand eost yst for planming and control, The following are the stndands peocing ne unit of prodc STANDARDS FOR PRODUCTION OF ONE UNIT OF PRODUCT VERSAILLES COMPANY Standard Standard Standard Cost Per Unit Quantity ofr Emput Price of Input Direct Materials 36.00 S 12.00 3 units Direct Labor 10.00 10.00 1.0 hours Variable Manufacturing Overhead Fixed Manufacturing Overhead 6.00 6.00 1.0 hours 18.00 18.00 1.0 hours During the period, the company recorded the attached activity in connection with the production of its product. VERSAILLES COMPANY ACTUAL ACTIVITY FOR PRODUCTION DURING PERIOD (a) The company purchased 20,000 units of direct materials at a total cost of $246,000. The company used 19,500 units of direct materials in producing the product. A total of 5,200 hours of direct labor were recorded at an average actual rate of $11.00 per hour. (b) (c) The company actually produced 5,000 units of output during the year. The actual variable manufacturing overhead incurred was $28,500 and the actual fixed (d) manufacturing overhead incurred was $91,700. (e) The company calculated its manufacturing overhead rates using a normal capacity of 5,500 direct labor hours