The following information is provided to assist you in evaluating the performance of the production operations of Paramount Company: Units produced (actual) 21,000 Master production budget Direct materials 165,000 Direct labor 140,000 Overhead 199,000 Standard costs per unit Direct materials $1.65 x 5 pounds per unit of output Direct labor $14 per hour x 

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 hour per unit Variable overhead $11.90 per direct labor-hour Actual costs Direct materials purchased and used $188,700 (102,000 pounds) Direct labor 140,000 (10,700 hours) Overhead 204,000 (61% is variable) Variable overhead is applied on the basis of direct labor-hours. 

 Required: 

Prepare a report that shows all variable production cost price and efficiency variances and fixed production cost price and production volume variances