21. The following materials standards have been established for a particular product: Standard quantity per unit of output 5.2 meters Standard price $15.60 The following data pertain to operations concerning the product for the last month Actual materials purchased 8,500 meters Actual cost of materials purchased $139,400 Actual materials used in production 8,200 meters Actual output 1,640 units Required: A. What is the materials price variance for the month? B. What is the materials quantity variance for the month? 22. THe following labor standards have been established for a particular product: Standard labor hours per unit of output 0.3 hours Standard labor rate $15.50 per hour The following data pertain to operations concerning the product for the last month Actual hours worked 3,800 hours Actual total labor cost $15,470 Actual output 12,800 units Required: A. What is the labor rate variance for the month? B. What is the labor efficiency variance for the month