2. (10 points) Lido Company's standard and actual costs per unit for the most recent period, during which 400 units were actually produced, are given below: Standard Actual Materials: Standard: 2 foot at $1.50 per foot $3.00 Actual: 2.1 foot at $1.60 per foot $3.36 Direct labor: Standard: 1.5 hours at $6.00 per hour 9.00 Actual: 1.4 hours at $6.50 per hour 9.10 Variable overhead: Standard: 1.5 hours at $3.40 per hour 5.10 Actual: 1.4 hours at $3.10 per hour Total unit cost 4.34 $17.10 $16.80 From the foregoing information, compute the following variances. Show whether the variance is favorable (F) or unfavorable (U): a. (2.5 points) Materials price variance. b. (2.5 points) Direct labor efficiency variance. c. (2.5 points) Variable overhead rate variance. d. (2.5 points) Variable overhead efficiency variance.