wanssgrad manufacturing has the following standard cost sheet for one of its products:

1. Wanssgrad Manufacturing has the following standard cost sheet for one of its products Direct materials (2 ft.@ $5) $10 Direct labor (0.5 hr. $10) 5 Fixed overhead (0.5 hr.@ $2) 1 Variable overhead (0.5 hr@$4)2 Standard unit cost Fixed overhead rate based on expected activity of 2,500 hours. During the most recent year, the following actual results were recorded: Production Direct materials (11,750 ft. purchased and used) $18 6.000 units $61,100 $29,580 Direct labor (2,900 hrs.) Required: a. b. c. Calculate materials variances Calculate labor variances Calculate the Net Variances for both