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Bobs TV Company budgeted the following cost standards for the current year: Direct materials = 1.40 pounds per unit @ $1.50 per pound Direct labor

Bobs TV Company budgeted the following cost standards for the current year:

Direct materials = 1.40 pounds per unit @ $1.50 per pound

Direct labor = 0.75 hours per unit @ $6 per hour

Actual production and costs were as follows:

Units produced = 2,800

Direct materials used = 4,500 lbs.

Direct materials purchased = 5,000 lbs. @ a cost of $5,850

Direct labor incurred = 2,000 hours at a cost of $13,000

a) The material price variance for materials purchased was?

b) The material efficiency (usage) variance was?

c) The labor price variance was

d) The labor efficiency (usage) variance was

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