Saved Help Save & Exit Submit Check my work Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) Variable manufacturing overhead cost Fixed manufacturing overhead cost 14.000 $ 19, 700 $ 97,300 ed The standard cost card for the company's only product is given below: Standard Cost Direct materials Direct labor Manufacturing overhead Total standard cost per unit Standard Quantity Or Hours 4 Tards 3 hours 2 hour Standard Price or Rate 3 2.35 per yard $ 8.75 per hour 10.50 per hour $ 9.40 17. 50 21.00 $ 47.90 nces During the year, the company produced 7.280 units of product and incurred the following actual results: 103, 950 30, 030 Materials purchased, 46,200 yards at $2.25 per yard Materials used in production in yards) Dhireet Isbor cast incurred 15,000 hours at 5.35 per hour Variable manufacturing overhead cost incurred Fixed facturing overhead cost incurred 3 $ 125, 250 50, 100 99,750 Required: 1. Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhead per unit 2. Compute the materiais price and quantity variances. Also, compute the labor rate and efficiency variances. 3. Compute the variable overhead rate and efficiency variances. Also, compute the fixed overhead budget and volume variances