1. Tools-N-Time has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Tools-N-Time used 3,100 pounds of materials at a total cost of $12,090. Tools-N-Times total material variance is A) $300 F. B) $90 U. C) $310 U. D) $400 U. 2. Tools-N-Time has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Tools-N-Time used 3,100 pounds of materials at a total cost of $12,090. Tools-N-Time's materials price variance is A) $90 U. B) $310 F. C) $400 F. D) $700 F. 3. Tools-N-Time has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Tools-N-Time used 3,100 pounds of materials at a total cost of $12,090. Tools-N-Time's materials quantity variance is A) $90 F. B) $310 U. C) $400 U. D) $700 U. 4. Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. Tools-N-Time's total labor variance is A) $770 U. B) $800 U. C) $1,030 F. D) $1,930 F. 5. Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. Tools-N-Time's labor price variance is A) $770 U. B) $800 U. C) $1,030 F. D) $1,930 F. 6. Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. Tools-N-Time's labor quantity variance is A) $770 U. B) $1,030 F. C) $1,800 F. D) $1,930 F