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betty s bakery nas the toliowing stanoara cost sneet tor one unt or its most...

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Accounting

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betty s bakery nas the toliowing stanoara cost sneet tor one unt or its most populat cake; During the month of May, the company made 1,000 cakes and incurred the following actual costs: Direct materials purchased and used (1,540 pounds), $2,002 Direct labor (1,060 hours), $12,190 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials spending variance. 4. Calculate the direct labor rate variance. 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to two decimal places

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