The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Standards have been computed based on a master budget activity level of 21,000 direct labor-hours per month. Actual actlivity for the past month was as follows: Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource. Complete this question by entering your answers in the tabs below. Prepare variance analyses for the variable and fixed costs. Note: Indicate the effect of each variance by selecting "F" for favorable, or " U " for unfavorable. If there is no effect, do not select elther option. \begin{tabular}{|c|c|c|} \hline Direct materials: & & \\ \hline Price variance & & \\ \hline Efficiency variance & & \\ \hline Direct labor: & & \\ \hline Price variance & & \\ \hline Efficiency variance & & \\ \hline Variable overhead: & & \\ \hline Efficiency variance & & \\ \hline Fixed overhead: & & \\ \hline Production volume variance & & \\ \hline \end{tabular} Note: Indicate the effect of each variance by selecting "F" for favorable; or "U" for unfavorable. If there is no e Complete the following table with the total variance for a resource. select elther option