1. Mason Company employs a standard cost system in which direct materials inventory is carried at standard cost. The company has established the following standards for the prime costs of one unit of product: Standard uantit Standard Price Standard Cost Direct materials 11.0 pounds $14.00/pound 154.00 $43.00/hour $116.10 Direct labor 2.7 hours During April, the company purchased 288,000 pounds of direct material at a total cost of $4,239,360. The total factory wages for April were $3,100,000, of which 90% was for direct labor. The company manufactured 25,000 units of product during April using 288,000 pounds of direct material and 65,000 direct labor hou 1. What is the direct material quantity variance for April? 2. What is the price variance for the direct material acquired by the company during April? - What is the direct labor efficiency variance for April? 4. What is the direct labor rate variance for April? Please show your work below: Standlardl frice (actusal Quantitny)-s 4.00 xX