Coppy's Plumbing Co. had a contract to install copper pipe in a new home. Coppy's accountana 000 prepared the following information for the project. The total estimated cost of the project is S4 excluding general overhead and profit and the actual cost was also $4,000. You, as the PM, want to dig a little deeper in to the numbers to determine if any variances exist. Materials: 100 feet of copper pipe @ $10/ft. Labor: Proj. OH: Overhead is based on labor hours. $1,000 $2,400 $600 60 labor hours@$40/hour Allocated@S10/DL Hr. (S10 x 60) Total budgeted cost: $4,000 Materials: 90 feet of copper pipe@ 12/ft. Labor Proj. OH: Actual job overhead incurred Total actual cost: $1,080 $2,100 $820 $4,000 50 labor hours@ $42/hour Compute the following variances and indicate if they are favorable (F) or unfavorable (U) 31) Materials quantity variance a. $100 F b. $100 U c. $ 80 U d. $180 U 32) Materials price variance a. $100 F b. $100 U c. $80 U d. $180 U 33) Labor efficiency variance a. $300F b. $400 F c. $100 U d. $120 U 34) Labor rate variance a. $300 F b. $400 F c. $100 U d. $120 U