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Delta Products prepares its budgets on the basis of standard costs. Aresponsibility report is prepared monthly showing the differences between master budget and actual results. Variances are analyzed and reported separately. There are no materials inventories. The following information relates to the current period: Standard costs (per unit of output) Direct materials, 6 gallons @ $4.00 per gallon Direct labor, 5.00 hours @ $32.00 per hour Factory overhead Variable (25% of direct labor cost) $ 24 160 40 $ 224 Total standard cost per unit Actual costs and activities for the month follow: 15,420 gallons at $1.86 per gallon 2,180 units 7,000 hours at $40.60 per hour $71,700 Materials used Output Actual labor costs Actual variable overhead Required: Prepare a cost variance analysis for the variable costs. (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.) Direct materials: $ 32,999 F $ 9,360 U Price variance Efficiency variance $ 23,639 Direct materials cost variance Direct labor. S 60,200 U Price variance $124,800 F Efficiency variance $ 64,600 F Direct labor cost variance Variable overhead: S 15,700U Price variance Efficiency variance Variable overhead cost variance

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