DM & DL variances In December, Sam Antari, president of Antari Inc., received the following information from Denise Sweet, the new controller, in regard to November production of travel bags: November production Actual cost of material purchased and used $26,190 8,640 bags Standard material allowed 0.5 square yard per bag Material quantity variance $1,080 U Standard price per yard of material $6 Actual hours worked 17,568 hours Standard labor time per bag 2 hours Labor rate variance $2,635 F Standard labor rate per hour $17 Antari asked Sweet to provide the following information: a. Standard quantity of material allowed for November production 4,320 square yards b. Standard direct labor hours allowed for November production 17,280 standard hours allowed c. Material price variance Note: Do not use a negative sign with your answer. Material price variance $ d. Labor efficiency variance Note: Do not use a negative sign with your answer. Labor efficiency variance $ e. Standard prime (direct material and direct labor) cost to produce one travel bag $ 37