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For each lot produced in November, complete the following schedule for the direct-labor rate variance. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter " 0 " for no effect I Required information [The following information applies to the questions displayed below] European Styles, Incorporated, manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data The following additional information is avallable 1. The firm purchased 94,000 yards of material during November at a cost of $113,500. 2. Direct labor during November amounted to $117,960. According to payroll records, production employees were paid $1200 per hour 3. There was no work in process on November 1. During November, lots 22 and 23 were completed All materlat was issued for lot 24. which was 70 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Direct, material Oirect labor: Production overhead 26. yards at 3. hours at 3 hours at $1.20 peryard \$ 11.40 per hour \$. 10,00 per hour 5. 31.20 34.20 30.00 2. For each lot produced during November, complete the following schedules: a. Direct-material purchase price variance. b. Direct-material quantity variance. c. Direct-labor efficiency variance. d. Direct-labor rate variance. Complete this question by entering your answers in the tabs below. Req 2A Req2OReq2D For each lot produced in November, complete the following schedule for the direct-material purchase price Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and en (i.e., zero variance). Direct material Direct labor Production overhead standard cost per box 26 yards at 3 hours at 3 hours at $1.20 per yard $11.49 per hour $10.00 per hour 5. 31.20 34.26 95.4030.00 Required: 1. Prepare a schedule computing the standard cost of lots 22,23 , and 24 for November Note: Round "Standord Cost per Box" to 2 decimal places. EUROPEAN STYLES, INCORPORATED Standard Cost of Production For November \begin{tabular}{|l|r|r|r|} \hline Lot & Quantity(boxes) & StandardCostperBox & TotalStandardCost \\ \hline 22 & 900 & & \\ \hline 23 & 1,600 & & \\ \hline 24 & 1,100 & & \\ \hline Standard cost of production & & & \\ \hline \end{tabular} Req 2A Req 2B Req 2C Rea 2D For each lot produced in November, complete the following schedule for the direct-material quantity variance. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable", Select "None" and enter "o" for no effect Req2AReq2BReq2D For each lot produced in November, complete the following schedule for the direct-labor efficiency variance. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (t.e EUROPEAN STYLES, INCORPORATED Direct-Labor Efficiency Variances Required information - Purchase of material. - Incurrence of direct-labor cost. - Addition of direct-material and direct-labor cost to Work-in-Process Inventory. - Recording of direct-material and direct-labor variances. Journal entry worksheet Record the purchase of direct material on account and the direct-material purchase price variance. Noter Enter debits before credits

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