ACCT232 08-2 Name Pts._ Graded by Kowaleski Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate $4.00 per kilo $21.00 per hour Direct materials 2.8 kilos Direct labor 0.1 hours In June the company produced 9,100 units using 27,010 kilos of the direct material and 930 direct labor-hours. During the month the company purchased 30,600 kilos of the direct material at a price of $3.70 per kilo. The actual direct labor rate was $19.90 per hour. The materials price variance is computed when materials are purchased. Required: a. Compute the materials quantity variance. b. Compute the materials price variance. c. Compute the labor efficiency variance