Submit your work in Moodle for this question. Also input your answers in Connect XYZ Company has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor hours. Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 7.1 ounces 0.6 hours 0.6 hours Standard Price or late $ 7.30 per ounce $26.70 per hour $ 5.60 per hour The company has reported the following actual results for the product for April: Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 8,550 units 61,710 ounces $341,700 60,735 ounces 3,850 hours $107,860 $ 20,701 Required: a. Compute the materials price variance for April b. Compute the materials quantity variance for April. c. Compute the labor rate variance for April d. Compute the labor efficiency variance for April. e. Compute the variable overhead spending variance for April. f. Compute the variable overhead efficiency variance for April. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: a. Compute the materials price variance for April b. Compute the materials quantity variance for April c. Compute the labor rate variance for April d. Compute the labor efficiency variance for April. e. Compute the variable overhead spending variance for April 1. Compute the variable overhead efficiency variance for April (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) a Materials price variance b Materials quantity variance CLabor rate variance d Labor efficiency variance le Variable overhead spending variance 1 Vanable overhead officiency variance