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Answer in the space provided. Doby Corporation makes a product with the following...

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Answer in the space provided. Doby Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 2.7 ounces 0.2 hours 0.2 hours Standard Price or Rate $7.00 per ounce S17.00 per hour S6.00 per hour In July the company produced 4,800 units using 13,450 ounces of the direct material and 970 direct labor-hours. During the month the company purchased 14,600 ounces of the direct material at a price of $7.20 per ounce. The actual direct labor rate was $16.20 per hour and the actual variable overhead rate was $5.40 per hour. The materials price variance is computed when materials are purchased. Variable overhead is applied on the basis of direct labor-hours. Label answers below as F (Favorable) or Unf (Unfavorable) in addition to showing amount. Required: 36. Compute the materials price variance. 7. Compute the labor efficiency variance. 38. Compute the labor rate variance

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