Actual cost is .98 cents

Arctic Enterprises, Inc. freezes water into ice. The standard and actual costs for direct materials for the manufacture of 2,000 tons of ice are: Which is true of the direct materials price and direct materials quantity variances? Both are unfavorable. The direct materials price variance is unfavorable: the direct materials quantity variance is favorable. The direct materials price variance is favorable: the direct materials quantity variance is unfavorable. Both are favorable. Using standard costing which T account should a company the on account of 7.10 pounds of direct materials at $8 per pound? The standard cost per pound is $7