$0.90 $1.00 Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour 100 130 $16 $19 Actual hours 200 Standard hours for units produced 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance Favorable Material quantity variance Favorable Labor rate variance Favorable Favorable Labor efficiency variance B. What are some possible causes for this combination of favorable and unfavorable variances? We paid less for our raw material, and assembly took fewer hours than expected. Feedback