$$Wonderful$!$ Not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,$$ said Kim Clark, president of Martell Company. $$Our $$18,300$ overall manufacturing cost variance is only $1\mathrm{.}2\%$ of the $$1,536,000$ standard cost of products made during the year. That$$s well within the $3\%$ parameter set by management for acceptable variances. It looks like everyone will be in line for a bonus this year.$$

The company produces and sells a single product. The standard cost card for the product follows:

Inputs $(1)$ Standard Quantity or Hours $(2)$ Standard Price or Rate Standard Cost $(1)\backslash$times $(2)$

Direct materials $2$ feet $ $8\mathrm{.}45$ per foot $ $16\mathrm{.}90$

Direct labor $1\mathrm{.}4$ hours $ $16$ per hour $22\mathrm{.}40$

Variable overhead $1\mathrm{.}4$ hours $ $2\mathrm{.}50$ per hour $3\mathrm{.}50$

Fixed overhead $1\mathrm{.}4$ hours $ $6$ per hour $8\mathrm{.}40$

Total standard cost per unit $ $51\mathrm{.}20$

The following additional information is available for the year just completed:

The company manufactured $30,000$ units of product during the year.

A total of $64,000$ feet of material was purchased during the year at a cost of $$8\mathrm{.}55$ per foot. All of this material was used to manufacture the $30,000$ units produced. There were no beginning or ending inventories for the year.

The company worked $43,500$ direct labor$-$hours during the year at a direct labor cost of $$15\mathrm{.}80$ per hour.

Overhead is applied to products on the basis of standard direct labor$-$hours. Data relating to manufacturing overhead costs follow:

Denominator activity level $($direct labor$-$hours$)35,000$

Budgeted fixed overhead costs $ $210,000$

Actual variable overhead costs incurred $ $108,000$

Actual fixed overhead costs incurred $ $211,800$

Required:

$1.$ Compute the materials price and quantity variances for the year.

$2.$ Compute the labor rate and efficiency variances for the year.

$3.$ For manufacturing overhead compute:

a$.$ The variable overhead rate and efficiency variances for the year.

b$.$ The fixed overhead budget and volume variances for the year.

$($For all requirements, indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$ Input all amounts as positive values.$)$