Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours $1.00 $0.90 90 110 $16 $14 210 230 Standard hours for units produced A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance Material quantity variance Unfavorable Favorable Labor rate variance Labor efficiency variance Unfavorable Favorable B. What are some possible causes for this combination of favorable and unfavorable variances? We paid more for our raw material, and assembly cost more per hour than expected. Feedback