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Data table Standards: Direct material 40 pounds per batch at $5.00 per pound Direct labor 3.0 hours per batch at $14.00 per hour Variable MOH standard rate $3.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgeted fixed MOH cost $1,550 Data table Purchased 3,120 pounds at a cost of $4.70 per pound Used 2,500 pounds in producing 60 batches Actual direct labor cost of $2,738 at an average direct labor cost per hour of $14.80 Actual variable MOH $666 Actual fixed MOH $1,850 Atkinson Manufacturing produces ceramic teapots. Atkinson allocates overhead based on the number of direct labor hours. The company is looking into using a standard cost system and has developed the following standards (one "unit" is a batch of 100 teapots): Click the icon to view the standards.) Actual cost and operating data from the most recent month are as follows: (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours Read the requirements Requirement 1. Calculate the standard cost of one batch Standard cost Standard cost per batch Direct materials Direct labor Variable MOH Fixed MOH Total standard cost Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variances as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials.) First, determine the formula for the price variance, then compute the price variance for direct materials. DM price variance Determine the formula for the quantity variance, then compute the quantity variance for direct materials. DM quantity variance Requirement 2b. Calculate the direct labor variances (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variances as favorable (F) or unfavorable (U). Abbreviations used: DL - Direct labor.) First, determine the formula for the rate variance, then compute the rate variance for direct labor DL rate variance First, determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. = DL efficiency variance Requirement 2c. Calculate the variable manufacturing overhead variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variances as favorable (F) or unfavorable (U