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Assume the following information appears in the standard cost card for a company that makes only one product: Direct materials 5 pounds $11.88 per pound $55.88 Direct labor 2 hours $18.58 per hour $37.88 Variable manufacturing overhead 2hours $ 3.88 per hour I. 6.88 During the most recent period, the following additional information was available: - 20,000 pounds of material was purchased at a cost of $10.50 per pound. - All of the material that was purchased was used to produce 3,900 units. - 8,000 direct laborhours were recorded at a total cost of $132,000. What is the direct labor efciency variance? Multiple Choice 0 $3,700 U $3,700 F $3,300 F $3,300 U 000 Assume the following: . The standard price per pound is $3.00. . The actual quantity of materials purchased is 60,000 pounds. . The actual quantity of materials used in production is 62,000 pounds. . The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O $6,200 F O $6,200 U O $6,000 U O $6,000 FAssume the following: The standard labor rate per hour is $17.45. . The standard labor-hours allowed per unit of finished goods is 3 hours. . The actual quantity of labor hours worked during the period was 44,000 hours. . The total actual direct labor cost for the period was $726,000. The company produced 15,000 units of finished goods during the period. What is the labor rate variance? Multiple Choice O $41,800 U O $39,800 F O $39.800 U O $41,800 F

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