Splish Manufacturing Company uses a standard cost system. Steven Lewis, a financial analyst for Splish Manufacturing Company, has been given information with respect to standard cost variances for one of the factories. These variances are given below. Materials quantity variance Labour rate variance Labour efficiency variance Factory overhead spending variance Factory overhead efficiency variance Factory overhead volume variance $ 10,500 favourable 6,600 favourable 19,000 unfavourable 4,650 favourable 9,500 unfavourable 75,000 favourable He has determined that the company has manufactured 75,500 units of product with standard costs as follows: Direct materials $1,132,500 *Direct labour 453,000 Variable factory overhead 226,500 Fixed factory overhead 377,500 Total standard cost $2,189,500 * Standard labour time per product unit is 45 minutes. The actual fixed factory overhead was equal to the master budgeted fixed factory overhead. Mr. Lewis would like to use the variances to develop some of the cost data for the fiscal period.