Please do not give solution in image format thanku The standard cost sheet for Chambers Company, which manufactures one product, follows:Direct materials, 30 yards at $3.00 per yardDirect labor, 4 hours at $30 per hourFactory overhead applied at 80% of direct labor(variable costs = $85; fixed costs = $11)Variable selling and administrativeFixed selling and administrativeTotal unit costsMaterials usedDirect laborTotal factory overheadProductionStandards have been computed based on a master budget activity level of 30,200 direct labor-hours per month. Actual activity for thepast month was as follows:Direct materials:Price varianceEfficiency varianceDirect labor:Price varianceEfficiency variance$Variable overhead:Efficiency variance90120Required:Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediatecalculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do notselect either option.)Fixed overhead:Production volume variance967854$ 438200,000 yards at $3.15 per yard25,000 hours at $32.00 per hour$630,0005,900 units

Name: Please do not give solution in image format thanku The standard cost s
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Description: Please do not give solution in image format thanku The standard cost sheet for Chambers Company, which manufactures one product, follows:Direct materials, 30 yards at $3.00 per yardDirect labor, 4 hours at $30 per hourFactory overhead applied at 80%

Direct Material Price Variance:…

Business

Accounting

Direct materials, 30 yards at $3.00 per yard Direct labor, 4 hours at $30 per hour Factory overhead applied at 80% of direct labor (variable costs = $85; fixed costs = $11) Variable selling and administrative Fixed selling and administrative Total unit costs $ 90 120 Materials used Direct labor Total factory overhead Production 96 78 54 $ 438 Standards have been computed based on a master budget activity level of 30,200 direct labor-hours per month. Actual activity for the past month was as follows: 200,000 yards at $3.15 per yard 25,000 hours at $32.00 per hour $630,000 5,900 units Required: Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)