Required information [The following information applies to the questions displayed below) BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $20 per pound and 0.40 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Prepare a standard cost card for a baseball bot for BatCo. (Round your final answers to 2 decimal places.) Inputs Standard cost Standard price or rate per unit Direct materials Standard quantity or hours pounds DLH Direct labor Overhead DLH Required information [The following information applies to the questions displayed below.) BatCo makes baseball bats. Each bat requires 100 pounds of wood at $20 per pound and 0.40 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Assume the actual cost to manufacture 140 bats is $7,000.00 Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost variance