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: 2.7 pounds $3 per pound Direct Labor: 0.6 hours $10 per hour 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. Question 72 (1.25 points) Materials quantity variance: Onone of these. $4,950 Favorable $900 Favorable $4,950 Unfavorable $900 Unfavorable Question 73 (1.25 points) Materials price variance: Onone of these $1,200 Unfavorable $1,200 Favorable Question 73 (1.25 points) Materials price variance: Onone of these $1,200 Unfavorable O$1,200 Favorable O $6,000 Unfavorable $6,000 Favorable Question 74 (1.25 points) Labor efficiency variance: $7,000 Favorable Onone of these $4,000 Favorable Question 74 (1.25 points) Labor efficiency variance: $7,000 Favorable Onone of these $4,000 Favorable $4,000 Unfavorable $7,000 Unfavorable Question 75 (1.25 points) Labor rate variance: $5,000 Favorable $20,000 Unfavorable $5,000 Unfavorable Labor rate variance: O $5,000 Favorable $20,000 Unfavorable $5,000 Unfavorable Onone of these $20,000 Favorable Question 76 (1.25 points) Variable overhead efficiency (quantity) variance: $2,800 Favorable $2,800 Unfavorable $3,000 Unfavorable $3,000 Favorable O $2,800 Favorable $2,800 Unfavorable O $3,000 Unfavorable O $3,000 Favorable none of these Question 77 (1.25 points) Variable overhead rate variance: $3,000 Favorable $3,000 Unfavorable O none of these $2,800 Unfavorable $2,800 Favorable