8.10 51.10 6. Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.70 per pound Direct labor 7 hours at $7 30 per hour Actual results: Units produced 5,800 units Direct material purchased 26,400 pounds at $2.90 Direct material used 17,100 pounds at $2.90 Direct labor 40,900 hours at $7.10 $ 76,560 49,590 290,39 0 Use the information to compute the following variances. The direct-labor rate variance is: $7,790 F $7,790 F $8,180 F 58,180 U. None of the answers is correct 7. Thomas Enterprises purchased 62,600 pounds (cost = $463,240) of direct material to be used in the manufacture of the company's sole product. According to the production specifications, each completed unit requires five pounds of direct material at a standard cost of $7.70 per pound Direct materials consumed by the end of the period totaled 60,100 pounds in the manufacture of 12,300 finished units. An examination of Thomas' payroll records revealed that the company worked 23,000 labor hours (cost $315,000) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $13.30 per hour. Use the information to compute the following variances Thomas' direct-material quantity variance was: $10,780 F $19,780 F $10,780 U $19,780 U. None of the answers is correct. 8. Storkin Enterprises recently used 27,000 labor hours to produce 9,800 completed units. According to manufacturing specifications, each unit is anticipated to take 2.70 hours to complete. The company's actual payroll cost amounted to $529,200. If the standard labor cost per hour is $19.80, Storkin's labor rate variance 153 $5,292 U $5,200 F 55.292 F $5,400 F None of the answers is correct