Actual raw materials used 21,000 lbs. at $5.50 per lb. Actual factory payroll 4,200 hours for a total of $42,000 Actual units produced 42,000 Budgeted standards for each unit produced are .45 pounds of raw material at $5.60 per pound and 4.5 minutes of direct labor at $9.50 per hour. Compute the direct materials price and quantity variances. and rate and efficiency variance