6) 22% - The following actual data was given for the firm. 5,000 pounds of material were purchased costing $ 45,000 Five hundred units were produced requiring 2000 labor hours costing $8,000 and 1,000 pounds of material. The standard for labor is 2 hours per unit with a wage rate of $5 per hour and for materials 2 pounds per unit at a price of $16 per unit. A) 11% Calculate all labor variances B) 11% Calculate all material variances