1. Freesia, Inc. recently completed 56,000 units of a product that was expected to consume 4 kilogram (kg) of direct material per finished unit. The standard price of the direct material was $8.50 per kg. The firm purchased 228,000 kg at $1,881,000 and consumed all of that in production. The direct material price variance during the period was: 2. Which of the followings is 20 poir consistent with the material price variance calculated in the above 01 ? 0 There was less production than the original forecast. 0 Material price has been increasing. 0 The quality of purchased material was lower than the standard. 0 There was a rush order. 3. The Norfolk Company is using 2 a standard cost system. In July the company used 3,000 hours of direct labor at an actual cost of $72,000; the standard wage per hour is $23. Also, given the actual output, the standard hours of labor allowed for July production was 2,975 hours. The labor price variance for July was: 4. In continuation of 03, the 2 labor efficiency variance for July was: 5. Cocino Ltd. uses the standard 20 p costing system and allocates overhead based on direct labor hours (DLH). Its predetermined overhead rate (POH R) is $7/DLH. The following table is for cost information per output unit. Estimate the product cost using the standard costing