View Policies Current Attempt in Progress Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Materials Item Per unit Cost Metal 1 lb 63c per lb. Plastic 12oz $1.00 per lb. Rubber 4 oz 88c per lb. Direct labor Item Per unit Cost 15 min Labor Predetermined overhead rate based on direct labor hours $3.84 $9.00 per hr. 3:30 PM D 500/2022 The January figures for purchasing production, and labor are: The company purchased 221.800 pounds of raw materials in January at a cost of 78 a pound. Production used 221.800 pounds of raw materials to make 112,000 units in January. Direct labor spent 18 minutes on each product at a cost of $8.80 per hour. Overhead costs for January totaled $37,559 variable and $75,000 fixed. Answer the following questions about standard costs , What is the materials price variance? (Round per unit calculations to 2 decimal places, eg 1.25 and final answer to O decimal places, eg 125) Materials price variance S a 3:21 PM 5/10/2022 Question 1 of 1 > -/10 125) What is the material quantity variance? (Round per unit calculations to 2 decimal places, eg. 1.25 and final answer to Od final answer to O decimal places, Materials quantity variance What is the total materials variance? Rund per unit cautions to 2 decimal places, eg 1.25 and final answer to O decimal places 125) Total materials variance What is the labor price or Round p t calculations to 2 decimal places, eg 1.25 and final amwer to O decimal places 50 331PM 1/10/2022 Question 1 of 1 > -/10 E What is the labor price variance? (Round per unit calculations to 2 decimal places, eg. 1.25 and final answer to O decimal places, eg 125) Labor price variance What is the labor quantity variance? (Round per unit calculations to 2 decimal places, eg 1.25 and final answer to O decimal places, 125) Labor quantity variance What is the total labor valance (Round per unit calculations to 2 decimal places, eg 1.25 and final answer to O decimal places, es Question 1 of 1 > -/10 EE I What is the total labor variance? (Round per unit calculations to 2 decimal places, eg. 1.25 and final answer to O decimal places, es 1253 Total labor variance $ What is the total overhead variance? Round per unit calculations to 2 decimal places, eg 1.25 and final answer to 0 decimal places, es 1253 Total overhead variance $ Save for Lane Attempts unlimited Submit Answer 3:32 PL