Transcribed image text : Rundle Manufacturing Company produces a component part of a top secret military communication device. Standard production and cost data for the part, Product X , follow: Rundle purchased and used 48,100 pounds of material at an average cost of $2.34 per pound. Labor usage amounted to 53,410 hours at an average of $7.61 per hour. Actual production amounted to 25,900 units. Actual fixed overhead costs amounted to $609 , 500 . The company completed and sold all inventory for $1 , 980 , 000 . Required a. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity. b. Calculate the materials price and usage variances. Indicate whether the variances are favorable ( F ) or unfavorable (U). c. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours. d. Calculate the labor price and usage variances. Indicate whether the variances are favorable ( F ) or unfavorable ( U ) . e. Calculate the predetermined overhead rate, assuming that Rundle uses the number of units as the allocation base. f. Calculate the fixed cost spending and volume variances and indicate whether they are favorable ( F ) or unfavorable ( U ) . g. Determine the amount of gross margin Rundle would report on the year-end income statement. Complete this question by entering your answers in the tabs below. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Round "Price variance" to 2 decimal places. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Round "Price variance" to 2 decimal places. Complete this question by entering your answers in the tabs below. Calculate the predetermined overhead rate, assuming that Rundle uses the number of units as the allocation base. Note: Round your answer to 2 decimal places. Calculate the fixed cost spending and volume variances and indicate whether they are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). etermine the amount of gross margin Rundle would report on the year-end income statement. ote: Round intermediate calculations to the nearest whole dollar