Cost standards for one unit of product Direct material Direct labor Actual results: 3 pounds at $2.50 per pound 5 hours at $7.50 per hour $ 7.50 37.50 Units produced Direct material purchased Direct material used Direct labor Required: - 7,800 units 26,000 pounds at $2.70 $ 70,200 23,100 pounds at $2.70 62,370 40,100 hours at $7.30 292,730 Compute the following and indicate whether a variance is favorable "F" or unfavorable "U" 1. The direct-material quantity variance. 2. The direct-material price variance. 3- The direct-material purchased price variance. 4. The direct-labor rate variance. 5. The direct-labor efficiency variance