Variance Analysis VB1 Reliablead, Co is a small manufacturer of plant food. The following information pertains to April's production Variable and fixed overhead are applied based on Direct Labor Hours Standards Material: 3.5 pounds per Batch @ $4 per pound Labor: 2 hours per Batch @ $16.5 per hour Variable OH: 2 hours per Batch @ $3 per hour Fixed OH: 2 hours per Batch @ $0.75 per hour* *based on budgeted production of 12,700 Batches Actuals Production: 13,000 Batches produced during the month Material: 44,900 pounds purchased and used @ $3.85 per pound Labor: 26,200 direct labor hours @ $16.6 per hour Variable OH: $75,680 Fixed OH: $19,450 Determine the following: 1. Material price variance 2. Material usage (quantity) variance 3. Labor rate variance 4. Labor efficiency variance 5. Variable overhead spending variance 6. Variable overhead usage variance 7. Fixed overhead spending variance 8. Fixed overhead volume variance. completed