Stencard Price Inputs Standarderd Quantity/ourt Direct Materials 35 kilos Direct labor 07 hrs 0.7 hrs Variable overhead $6.50 per kilo $ sudo per hr $5.00 per hr The company reported the following results Actual Output purchase of raw maltiale Pe maleries used in production cost of raw materials Cost of direct labor Actual variable ouer head vafe Actual direct labor-hours 8.400 nits 22. Kes 29 pero 15 to four 132,600 Total 134-25 per hour S.soo hrs The material price Variance is recognized when materials are purchase. Variable Ouetead is applied on the basis of direct la cor-hours Answer should be in the format 4000For 4000 U Compute the materials quantity Uriance? compite the materials price Vrience ? Total material variance? compute the labor efficiency wariance? compute the direct labor rate variance? Total Labor variance? compute the variable overheal efficiency variance? Compute the worlable Ouer lead rate vorare? Inputs Direct material Direct Labor Variable Overhead Standard Quantity/hours 3.5 kilos 0.7 hours 0.7 hour Standard Price $6.50 per kilo $21.00 per hour $5.00 per hour 8,400 22,500 units kilos Actual butput Purchase of raw materials Actual direct labor hours 5,500 5,500 hours kilos 29,000 Raw materials used n production 155,777 Total Cost of raw materials 132,000 Total cost of direct labor $4.25 per hour Actual variable Overhead rate