Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (1) Standard Quantity or Standard Price or Rate Standard Coat Inputs Direct materials Direct labor Variable manufacturing overhead Hours 2.40 pounds $16.50 per pound $39.60 $15.80 1.00 houra 9.40 per hour 9.40 $64.80 1.00 hour $15.80 per hour 45 Total atandard cost per unit Total Variances Reported Standard PriceQuantity or Cost+or Rate Efficiency $752,400 $13,804 $33,000 U Direct materials Direct labor $300,200 4,000 U $15,800 U Variable manufacturing overhead $178,600 4,600 P