Cost standards for one unit of product no. C77: Direct material Direct labor Actual results: Units produced Direct material purchased Direct material used Direct labor 3 pounds at $2.60 per pound 5 hours at $7.40 per hour 8,200 units 26,900 pounds at $2.80 24,300 pounds at $2.80 41,400 hours at $7.20 S 7.80 37.00 $ 75,320 68,040 298,080 Use the information to compute the following variances. The standard hours allowed for the work performed are: Multiple Choice 40,260, 41,150 41,000. 40.900