Wagner Company developed the following standard costs for its product for 2011: Direct Materials - 4 pounds at $4.50 per pound Direct Labor - 2 hours at $10.50 per hour Based on their flexible budget, budgeted Manufacturing Overhead costs are $80,000 of fixed costs plus variable costs of $4 per direct labor hour. Normal capacity is set at 20,000 units of product OR 40,000 DIRECT LABOR HOURS. (20,000 units x 2 labor hours per unit) Actual costs for 2011 were as follows: a. 19,000 units of product were actually produced b. Direct labor costs were $362,700 for 37,200 direct labor hours actually worked. c. Actual direct materials purchased and used during the yeear cost $361,900 for 77,000 pounds. d. Total actual manufcaturing overhead costs were $227,000. Compute the following yearly variances for Wagner company for 2011 and indicate whether the variance is favorable (F) or unfavorable (U) Use the following format for all variances: (Example: 1,000 U)

Compute the Variable Overhead Controllable Variance

Compute the Fixed Overhead Volume Variance

Compute the total Manufacturing Overhead Variance

Compute the total cost variance and indicate if favorable or unfavorable.