Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.10 Actual quantity purchased and used in production 90 Standard quantity for units produced 100 Actual labor rate per hour $16 Standard labor rate per hour $17 Actual hours 200 Standard hours for units produced 210 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance 790 X Favorable Material quantity variance Labor rate variance Labor efficiency variance B. What are some possible causes for this combination of favorable and unfavorable variances? Penny Company manufactures only one product and uses a standard cost system. The following information is from Penny's records for May: Direct labor rate variance $13,000 favorable Direct labor time variance $23,000 unfavorable Standard hours per unit produced 2.50 Standard rate per hour $23 During May, the company used 12.50% more hours than the standard allowed. A. What were the total standard hours allowed for the units manufactured during the month? standard hours B. What were the actual hours worked? actual hours C. How many actual units were produced during May? units produced