The standard cost sheet for Chambers Company, which manufactures one product, follows: Direct materials, 30 yards at $4.00 per yard Direct labor, 4 hours at $25 per hour Factory overhead applied at 80% of direct labor $ 120 100 (variable costs $70; fixed costs $10) Variable selling and administrative 80 70 Fixed selling and administrative Total unit costs 46 $ 416 Standards have been computed based on a master budget activity level of 29,400 direct labor-hours per month. Actual activity for the past month was as follows: Materials used Direct labor Total factory overhead Production 234,000 yards at $4.10 per yard 30,000 hours at $27.00 per hour $620,000 7,200 units Required: Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations. 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 Answer is not complete. U U Direct labor: Price variance Efficiency variance Variable overhead: Efficiency variance Fixed overhead: Production volume variance U U P