The following information is for the standard and actual costs for Happy Corporation: Standard Costs: Budgeted units of production 16,000 [80% (or normal) capacity] Standard labor hours per unit 4 Standard labor rate $26 per hour Standard material per unit 8 Ibs. Standard material cost $12 per pound Standard variable overhead rate $15 per labor hour Budgeted fixed overhead $640,000 Fixed overhead rate is based on budgeted labor hours at 80% (or normal) capacity. Actual Costs: Actual production 16,500 units Actual material purchased and used 130,000 pounds Actual total material cost $1,600,000 Actual labor 65,000 hours Actual total labor costs $1,700,000 Actual variable overhead $1,000,000 Actual fixed overhead $640,000 Enter favorable variances as negative numbers. Do not round interim calculations. a. Determine the direct materials quantity variance, price variance, and total cost variance, Direct materials: Quantity variance: -24,000 Favorable Price variance: 40,000 Unfavorable Total direct materials cost variance: 64,000 Unfavorable b. Determine the direct labor time variance, rate variance, and total cost variance. Direct labor: Time variance: 26,000 Unfavorable Rate variance: 10,000 Unfavorable Total direct labor cost variance: c. Determine the factory overhead volume variance, controllable variance, and total factory overhead cost variance. Factory overhead: Volume variance: Controllable variance: Total factory overhead cost variance