A partial standard cost card for the single product produced by Daffodil Company is given below: Direct materials: 3 pounds @ $8 per pound Direct labor: ? hours @ ? per hour Last period the company produced 4,000 units of product. Cost and other data associated with this production are given below: Direct materials purchased and used, at cost Direct labor cost incurred (10,400 hours) .. Materials price variance Labor efficiency variance. Total labor variance .. $103,320 $120,640 $2,520 Unfavorable $4,800 Unfavorable $640 Unfavorable Required: a. Determine the number of pounds of direct materials purchased and used during the period. b. Determine the materials quantity variance. c. Determine the standard direct labor rate per direct labor hour. d. Determine the standard hours allowed for the production of the period. e. Please give real life examples for the reasons of materials quantity variance and labor efficiency variance. Explain who are responsible for these variances and why