4. Use the following information to answer Questions 1-4: Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $ 7.50 Direct labor 5 hours at $7.50 per hour 37.500 Actual results: Units produced 17,800 units Direct material purchased 26,000 pounds at $2.70 $ 70,2001 Direct material used 23,100 pounds at $2.70 62,370 Direct labor 40,100 hours at $7.30 292,730 Assume that the company computes variances at the earliest point in time. 4/1. The direct-material quantity variance is: A. $750F. B. $750U. C. $6,500U. D. $7,250U. E. None of the answers is correct. 4/2. The direct-material price variance is: A. $4,620F. B. $4,620U. C. $5,200F. D. $5,200U. E. None of the answers is correct