Sunny Days, Inc. manufactures flower pots. The company uses a standard cost system. Flower pots are sold for $8 each. At the start of monthly production, Sunny estimated 9,500 flower pots would be produced during March. Sunny has established the following material and labor standards to produce one flower pot: Standard Quantity Standard Price Direct Materials: pound 2.7 pounds $3 per Direct Labor: hour 0.6 hours $10 per Variable Overhead: 0.6 hours $7 per hour Sunny uses a predetermined overhead rate based on standard direct labor hours. The variable portion of the predetermined overhead rate is $7 per hour. During March the following activity was recorded relating to the production of flower pots: 1. The company produced 9,000 units during the month. 2. A total of 24,000 pounds of materials were purchased at a cost of $66,000. 3. A total of 24,000 pounds of materials were used in production. 4. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000 5. The company actually incurred $38,000 of total variable overhead costs. Required: Calculate the following variances during March for Sunny Days, Inc. Materials quantity variance: O $900 Favorable $4,950 Favorable none of these. $900 Unfavorable $4,950 Unfavorable Question 73 (1.25 points) Materials price variance: Onone of these O $6,000 Unfavorable O $6,000 Favorable $1,200 Unfavorable O $1,200 Favorable Labor efficiency variance: O $7,000 Unfavorable O $4,000 Unfavorable O $4,000 Favorable none of these O $7,000 Favorable Question 75 (1.25 points) Labor rate variance: $20,000 Favorable $5,000 Favorable O none of these O $5,000 Unfavorable O $20,000 Unfavorable Question 76 (1.25 points) Variable overhead efficiency (quantity) variance: $2,800 Unfavorable Onone of these O $3,000 Favorable O $3,000 Unfavorable O $2,800 Favorable Question 77 (1.25 points) Variable overhead rate variance: $3,000 Unfavorable O none of these O $3,000 Favorable O $2,800 Favorable