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XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck

Accounting

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XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per 0.50-liter can of solution call for 0.81 liters of material and four hours of labor. (0.81 liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.30. The standard cost per hour for labor is $12. Overhead is applied at the rate of $16.78 per can. Expected production is 8,600 cans with fixed overhead per year of $54,868 and variable overhead of $10.40 per unit (a 0.50-liter can). 
During 2021, 7,700 cans were produced; 12,400 liters of material were purchased at a cost of $54,560; 9,200 liters of material were used in production. The cost of direct labor incurred in 2021 was $353,100, based on an average actual wage rate of $11 per hour. Actual overhead for 2021 was $126,200. 
 Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.) 

 Calculate material, labor, and overhead variances. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.) 
Material Price Variance 
Material Quantity Variance 
Labor Rate Variance 
Labor Efficiency Variance 
Controllable Overhead Variance 
Overhead Volume Variance