The following information is provided to assist you in evaluating the performance of the production operations of Studio Company: Units produced (actual) Master production budget Direct materials Direct labor 47,000 $130,680 110,880 160,380 Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor $1.65 x 2 gallons per unit of output $14 per hour x 0.2 hour per unit $11.50 per direct labor-hour $134,050 (76,600 gallons) 120,781 (8,980 hours) 167,200 (61% is variable) Variable overhead is applied on the basis of direct labor-hours. Required Calculate all variable production cost price and efficiency varnances and fixed production cost price and production volume variances. (Do not round intermediate calculations. Indicate the effect of each varianc by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Price Variance Efficiency Variance Direct materials Direct labor Variable overhead Fixed overhead