$240 Figure 10-3. Bortello Corporation produces high-quality leather boots. The company has a standard cost system and has set the following standards for materials and labor Leather (12 strips $20) Direct labor (10 hours @ $12) $120 Total prime cost $360 During the year Bortello produced 125 boots. Actual leather purchased was 1,700 strips, at $16 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 1,500 hours at 515 per hour Refer to Figure 10-3. Compute the materials price variance and the materials usage variance, respectively. Ca. 56.300 F and 54.000 U Ob. 59.000 F and $1.300 U OC 19.300 and $1500F d. 36.000 and $4000 F Figure 10-3. Bortello Corporation produces high-quality leather boots. The company has a standard cost system and his set the following standards for materials and labor: Leather (12 strips $20) $240 Direct labor (10 hours $12) $120 Total prime cost $360 During the year Bortello produced 125 boots. Actual leather purchased was 1,700 strips, at $16 per strip. There were no beginning er ending inventories of leather. Actual direct labor was 1.500 hours at $15 per hour Refer to Figure 10-3. Calculate the labor rate variance and the labor efficiency variance, respectively, Ca. 54500 U and 55.000 U b. 54500 F and 53,000 Oc. $4500 and 53.000 F d. 54.500 and $3.000