2A. Young Company produces a product that requires 2.5 standard hours per unit at a standard hourly rate of $9 per hour. If 500 units required 1,300 hours at an hourly rate of $8.75 per hour, what is the direct labor time (efficiency) variance, rate variance, and the total variance? Quantity Purchased is different from Quantity Used 2B. Young Company produces a product that requires five standard pounds per unit. The standard price is $.90 per pound. Young Company produced 500 units during the month. They purchased 2,500 pounds at $1.10 per pound, but only used 2,350 pounds. What is the direct materials quantity variance and price variance