Section G-Variance Analysis The following standard costs were Corporation. developed for product ACCT #4101 of the Golden Rams Per Unit Direct Materials: Direct Labor: Variable Overhead: Fixed Overhead: 4 feet@$14 per foot 8 hours @ $10 per hour 8 hours @ $8 per hour 8 hours@ $12 per hour The following actual information is available for the period: Units Produced Materials Purchased Material Used Direct Labor. 11,000 units 45,000 feet @ $13.70 per foot 45,000 feet @$13.70 per foot 84,000 hours @ $10 per hour Actual overhead incurred for the period: Variable Fixed 756,000 $1,000,000 Budgeted fixed manufacturing overhead for the period is $960,000, and the standard fixed overhead rate is based on expected capacity of 80,000 direct labor hours. Note: Indicate if a variance is favorable (F) or unfavorable (U). 1. Compute the direct materials price variance and direct materials efficiency variance. 2. Compute the direct labor price variance and direct labor efficiency variance