Standard Costing and Variance Analysis Aiyanna Swartz Manufacturing, Inc. planned to produce 25,000 units of a product during 2024. The Standard Cost data for the product is as follows: DM (31b @ $2 per pound) $6 Per unit DM (0.5 hr @ $8.00 per hour). .$4 Per unit Variable overhead (.5hr @ $4.00 per hour)........$2 Per unit The actual production was 24,000 units, with the following actual total costs incurred: DM (74,000 lb. @ $1.80) $133,200 Total Cost DL (13,000 hr. @ 8.10) $105,300 Total Cost Variable overhead. $50,200 Total Cost A. Calculate the variances for materials, labor, and variable overhead B. Is the difference between the total actual cost and total standard cost equal to the sum of all the variances? Why