Cost standards for one unit of product no. C77: Direct material Direct labor Actual results: Units produced Direct material purchased26,000 pounds at $2.80 Direct material used Direct labor 3 pounds at $2.60 per pound 7.80 5 hours at $7.20 per hour 8,000 units 23,700 pounds at $2.80 36.00 s 72,800 66,360 283,500 40,500 hours at $7.00 Assume that the company computes variances at the earliest point in time The standard hours allowed for the work performed are: Multiple Choico 40,290 40,150 40,000 39,900. None of the answers is correct