Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Price (Rate) $5 per square feet $ 15 per hour $ 6 per hour Standard Unit Cost $ 75.00 150.00 60.00 80.00 Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24,000 300 units) Standard Quantity 15 square feet 10 hours Rip Tide has the following actual results for the month of June: Number of units produced and sold Number of square feet of fiberglass purchased and used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: 10 hours 329 5,090 $ 27,995 3,230 $ 50,711 $ 14,090 $ 25,450 1. Calculate the direct materials price, quantity, and total spending variances for Rip Tide. 2. Calculate the direct labor rate, efficiency, and total spending variances for Rip Tide. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Rip Tide. 4. Calculate the fixed overhead spending (budget) and volume variances for Rip Tide. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the direct materials price, quantity, and total spending variances for Rip Tide. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance < Required 1 Required 2 > Show less Calculate the variable overhead rate, efficiency, and total spending variances for Rip Tide. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance < Required 2 F Required 4 > Show less Required 1 Required 2 Required 3 Required 4 Calculate the fixed overhead spending (budget) and volume variances for Rip Tide. Note: Do not round your intermediate calculations. Enter the dollar value of the variance as an absolute value (positive number) and then use the drop-down menu to indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Fixed Overhead Spending Variance Fixed Overhead Volume Variance < Required 3 Required 4 > Show less