At the beginning of 2021, Mark, Inc. set the following standards: Direct materials: Direct labor: 2.5 lbs./unit at a cost of $3/lb. 3 hrs./unit at a cost of $15/hr. At the end of the year, the following information is available: Direct materials purchased: 50,000 lbs. at a cost of $175,000 Direct materials used: 48,000 lbs. Direct labor cost: $360,000 Production: 25,000 units 1) Compute the materials price variance: $ 2) If the labor rate variance is $40,000 favorable, compute the actual number of direct labor hours worked