Anne Trading has the following standards cost for one of its products: Direct materials (2 kg at $3) $6 Direct labour (0.6 hr at $3) $6 During the most recent year, the following actual results were recorded: Production 7,000 units Direct materials (10,000 kg purchased and used) $50,000 Direct labour (5,000 hrs) $20,000 8. Materials price variance is: A. $20,000(F) B. $20,000 (U) C. $10,000 (U). D. $10,000(F). 9. Labour rate variance is: A. $5000 (U). B. $5000 (F). C. $10,000 (F) D. $10,000(U). 10. Variances are computed by taking the difference between which of the following? A. Product cost and period cost. B. Actual cost and differential cost. C. Price factors and rate factors. D. Actual cost and standard cost