RECOMMENDED!!The following data were drawn from the records of Miller Corporation

  

The following data were drawn from the records of Miller Corporation.Planned volume for year (static budget) 3,500 units Standard direct materials cost per unit 3.80 pounds @ $ 1.60 per poundStandard direct labor cost per unit 3.10 hours @ $ 4.30 per hourTotal expected fixed overhead costs $ 17,850 Actual volume for the year (flexible budget) 3,800 units Actual direct materials cost per unit 3.40 pounds @ $ 1.90 per poundActual direct labor cost per unit 3.50 hours @ $ 3.80 per hourTotal actual fixed overhead costs $ 13,950 RequiredCalculate the standard price, the actual price, the standard quantity, and the actual quantity.Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).Calculate labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours.Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).Calculate the predetermined overhead rate, assuming that Miller uses the number of units as the allocation base.Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U).Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U).