. Straightforward variance analysisArrow Enterprises uses a standard costing sys

. Straightforward variance analysisArrow Enterprises uses a standard costing system. The standard cost sheet for product no. 549 follows.Direct materials: 4 units @ $6.50 $26.00Direct labor: 8 hours @ $8.50 68Variable factory overhead: 8 hours@ $7.00 56Fixed factory overhead: 8 hours @ 2.520Total standard cost per unit $170.00The following information pertains to activity for December:1.Direct materials acquired during the month amounted to 26350 units at $6.40 per unit. All materials were consumed in operations.2.Arrow incurred an average wage rate of $8.75 for 51400 hours of activity.3.Total overhead incurred amounted to $508400. Budgeted fixed overhead totals $1.8 million and is spread evenly throughout the year.4.Actual production amounted to 6500 completed units.a. compute Arrows direct material variancesb. Compute Arrows direct labor variances.c.Compute Arrows variances for factory overhead