Warwick Bottle Company (WBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category Standard Cost per 100 Two-Liter Bottles Direct labor $1.22 Direct materials 5.90 Factory overhead 0.36 Total $7.48 At the beginning of March, WBC management planned to produce 590,000 bottles. The actual number of bottles produced for March was 640,000 bottles. The actual costs for March of the current year were as follows: Cost Category Actual Cost for the Month Ended March 31, 2012 Direct labor $7,960 Direct materials 36,850 Factory overhead 2,330 Total $47,140 Hide a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for WBC, assuming planned production. b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for March. Use the minus sign to enter favorable variances as negative numbers