The Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The standards per 0.50-gallon can of chemical call for

rHayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The standards per half gallon can of chemical call for: Direct Material .75 gallon @ S5.25 per gallon of material Direct Labor 3.0 hours of direct labor@ $11.00 per hour Overhead is applied at the rate of $9.75 per can. Expected production is 17.00 cans with fixed overhead per year of $29,750, and variable overhead of $8.00 per half gallon can. During 2015, 18,000 cans were produced. Actual costs were as follows: 1. 16,000 gallons of material were purchased at a cost of $109,600. 2. 14,400 gallons of material were used in production. 3. Direct labor incurred was $608,220 based on an average actual wage rate of $10.90 per hour 4. Actual overhead was $175,600 (actual variable costs are $145,600 and actual fixed costs are $30,000) Required: a. Calculate direct material variances and explain favorable or unfavorable b. Calculate direct labor variances and explain favorable or unfavorable c. Calculate one-way overhead variances and explain favorable or unfavorable Calculate variable overhead variances and explain favorable or unfavorable Calculate fixed overhead variances and explain favorable or unfavorable What costs are journalized by a debit to work-in-process for direct martials, direct labor, and manufacturing overhead? d. e. f