Saved Help Save & Rundle Manufacturing Company produces a component part of a top secret military communication cost data for the part, Product X, follow: device. Standard production and Planned production Per unit direct materials Per unit direct labor Total estimated fixed overhead costs 27,800 units 3.20 pounds$1.68 per pound 2.98 hours $8.68 per hour $684,880 Rundle purchased and used 91,080 pounds of material at an average cost of $1.65 per pound. Labor usage amounted to 77760 hours at an average of $8.70 per hour Actual production amounted to 28,000 units. Actual fixed overhead costs amounted to $641,800. The company completed and sold all inventory for $1,920,000, Required a. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity b. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). c. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours. d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Rundle uses the number of units as the allocation base f. Calculate the fixed cost spending and volume variances and indicate whether they are favorable (F) or unfavorable (U), g. Determine the amount of gross margin Rundle would report on the year-end income statement