3. (10 points) The following standards have been established for a raw material used to make product 192: Standard quantity of the material per unit of output.... 6 pounds Standard price of the material............. Standard hours of labor per unit of output Standard rate of the labor per hour The following data pertain to a recent month's operations: Actual material purchased.................. Actual cost of material purchased............ Actual material used in production.. Actual output.......... Actual labor used Actual total labor cost Required: $2.25 per pound 3 hours $8 per hour 13,600 pounds $31,620 13,600 pounds 2,300 units of product 192 7,100 hours $57,150 a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? c. What is the labor rate variance for the month? d. What is the labor efficiency variance for the month?