Please don't give answer & formulae in image based format.. thanku The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows:Direct materials, 2 pounds at $10.00 per poundDirect labor, 0.8 hours at $31.25 per hourFactory overhead applied at 120% of direct labor (variable costs$18; fixed costs = $12)Variable selling and administrative costFixed selling and administrative costTotal unit costsMaterials usedDirect labor:Total factory overheadProductionStandards have been computed based on a master budget activity level of 20,000 direct labor-hours per month. Actual activity for thepast month was as follows:$ 657,000$202546,500 pounds at $9.90 per pound17,800 hours at $32 per hour22,500 units301012$ 97Required:a. Prepare variance analyses for the variable and fixed costs.b. Complete the following table with the total variance for a resource. a. Prepare variance analyses for the variable and fixed costs.b. Complete the following table with the total variance for a resource.Complete this question by entering your answers in the tabs below.Required A Required BPrepare variance analyses for the variable and fixed costs.Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do notselect either option.Direct materials:Price varianceEfficiency varianceDirect laborPrice varianceEfficiency varianceVariable overheadEfficiency varianceFixed overheadProduction volume varianceComplete this question by entering your answers in the tabs below.Required A Required BComplete the following table with the total variance for a resource.Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do notselect either option.ResourceDirect materialsDirect laborOverheadAmountRequired B >U/F< Required A

Variance analysis is one of the important tool of decision making in the management accounting.…

The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Direct materials, 2 pounds at $10.00 per pound Direct labor, 0.8 hours at $31.25 per hour Factory overhead applied at 120% of direct labor (variable costs - $18; fixed costs = $12) Variable selling and administrative cost Fixed selling and administrative cost Total unit costs $ 20 25 30 10 12 $ 97 Standards have been computed based on a master budget activity level of 20,000 direct labor-hours per month. Actual activity for the past month was as follows: