4. The following information summarizes the standard cost for producing one socket wrench at Prime Industrial Products. In addition, the variances for one month's production are provided. Assume that all inventory accounts have zero balances at the start of the month. MATERIALS DIRECT LABOR (3 HRS & $3.10) FACTORY OVERHEAD VARIABLE FIXED VARIANCES STANDARD COST PER UNIT STANDARD MONTHLY COSTS $500 $12,490 930 15,490 MATERIAL PRICE 568.00 UNFAVORABLE MATERIAL QUANTITY 800.00 UNFAVORABLE LABOR RATE 880.00 FAVORABLE LABOR EFFICIENCY PART R-A 2.40 4,000 8.60 12,200 $25.30 $44,700 3120.00 UNFAVORABLE a. What was the actual quantity of materials used during the month? b. What was the actual price paid for the direct material during the month, assuming all materials purchased were put into production? c. What were the actual direct labor hours worked during the month?