XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per0.50-liter can of solution call for0.80liters of material and four hours of labor. (0.80liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.30. The standard cost per hour for labor is $12. Overhead is applied at the rate of $16.64per can. Expected production is8,500cans with fixed overhead per year of $49,640and variable overhead of $10.80per unit (a0.50-liter can).

During 2021,7,700cans were produced;11,800liters of material were purchased at a cost of $54,280;9,100liters of material were used in production. The cost of direct labor incurred in 2021 was $318,000, based on an average actual wage rate of $10per hour. Actual overhead for 2021 was $125,000.

(a) Determine the standard cost per unit. {Round answer to 2 decimal places. e3. 15.25.) _' (b) Calculate material, labor, and overhead variances. (Round intermediate calculations to 2 decimal places, as. 14.37 and nal answer to 0 decimal places, as. 125. Enter all variances as a positive number.) Material Price Variance 27,140 Favorable v Material Quantity Variance 6,120 Unfavorable v Labor Rate Variance Labor Efciency Variance Controllable Overhead Variance h-'bh- Overhead Volume Variance