work Exercise 15-36 (Algo) Variable Cost Variances (LO 16-5) Paynesville Corporation manufactures and selis a preservative used in food and drug manufacturing. The company carries no inventories. The master budget calls for the company to manufacture and sell 108,000 torso a budgeted price of $135 porter this year. The standard direct cost sheet for one liter of the preservative flow 12 de 30 SIC 10.5 16 Direct labor Variable overtad apple bosed on direct labor hours. The variable overhead is $50 per directa bor hour. The foed overed rate at the master budget level of activity is $30 per unit All non manufacturing costs are fired and are budgeted at $16 million for the coming year At the end of the year the costs analyst reported that the sales activity variance for the year wins $438.000 unfavorable The following is the actual income statement in thousands of dollars for the yent DE Varihi 1,010 30 Canal thote its During the year, the company 4.000 Donde onderwyed 400 hours of it be Next > MacBook Air 20 $ 4 & 2 % 5 3 6 8 9 W E R. . Y > S D F G Operating profit 5,570 During the year, the company purchased 184,000 pounds of material and employed 44,400 hours of direct labor, Required: a. Compute the direct matecial price and efficiency variances b. Compute the direct labor price and efficiency variances c. Compute the variable overhead price and efficiency variances For all requirements, enter your answers in whole dollars. Indicate the effect of each variance by selecting "P" for favorable "U" for unfavorable. If there is no effect, do not select either option) Direct Price Senty Is Dred labor ocy w MacBook Air 80 888 3 $ 4 % 5 6 & 7 8 ON V E R T Y U u D F G H