ACCOUNTING 8550 What is the budgeted cost and actual cost, respectively,

Use the information below to answer these questionsWhat is the budgeted cost and actual cost, respectively, of producing one tire is (to the nearest $)What is the direct labor efficiency variance is:What is the direct materials quantity variance is:What is the direct materials price variance is:The budgeted and actual costs at Goodyear Company is as follows:Budgeted costsActual costsMaterials (per tire): 12 lbs @ $1.80/lbTotal materials purchased: 840,000lbsLabor (per tire): 4 hrs. @ $14/hrTotal cost of purchase: $1,554,000Factory O/H (per tire): 3 hrs. @ $8/hrTotal material used: 849,600 lbsLabor (per tire): 4.1 hrs @ $13/hrFactory O/H (per tire): 2.8 hrs @ $8.50/hrDuring October, Goodyear produced 72,000 tires.

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