Transcribed Image Text
In: AccountingThe standards for one case of liquid weed killer are asfollows:Direct materials7lb...The standards for one case of liquid weed killer are asfollows:Direct materials7lb@$8.25/lbDirect labor4hr@$17.6/hrVariable overhead (based onmachine hours)1.3hr@$6.05/hrDuring the week ended May 6, the following activity took place:5,162 machine hours were worked.29,553 lb of raw material were purchased for inventory at atotal cost of $248,836.4,180 cases of finished product were produced.29,110 lb of raw material were used.16,352 labor hours were worked at an average rate of $17.88 perhour.$30,146 actual variable overhead costs were incurred.Required:Calculate each of the following variances. (Do not roundintermediate calculations. Indicate the effect ofeach variance by selecting "F" for favorable, "U" for unfavorable,and "None" for no effect (i.e., zerovariance).)a. price variance for raw material purchasedb. Raw material usage variancec. Direct labor rate varianced. Direct labor efficiency variancee Variable overhead efficiency variance(two solutions are required here)