The standard cost sheet for Chambers Company, which manufactures one product, follows: Direct materials, 40 yards at $2.00 per yard Direct labor, 5 hours at $20 per hour Factory overhead applied at 80% of direct labor (variable costs $60; fixed costs Variable selling and administrative Fixed selling and administrative Total unit costs $20) $ 80 100 80 64 40 $ 364 Standards have been computed based on a master budget activity level of 28,800 direct labor-hours per month. Actual activity for the past month was as follows: Materials used Direct labor Total factory overhead Production 228,000 yards at $2.05 per yard 25,200 hours at $20.40 per hour $444,000 5,000 units Required: Prepare variance analyses for the variable and fixed costs. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct materials: Price variance Efficiency variance Direct labor Price variance Efficiency variance past month was as follows: Materials used Direct labor Total factory overhead Production $444,000 228,000 yards at $2.05 per yard 25,200 hours at $20.40 per hour 5,000 units Required: Prepare variance analyses for the variable and fixed costs. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct materials: Price variance Efficiency variance Direct labor: Price variance Efficiency variance Variable overhead: Efficiency variance Fixed overhead: Production volume variance