E9-13 Determining Actual Costs, Standard Costs, and Variances [LO 9-3, 9-4) Amber Company produces iron table and chair sets. During October, Amber's costs were as follows Actual purchase price S 2.20 per ib $ 7.40 per hour $ 2.00 per Actual direct labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours allowed Actual quantity purchased in October Actual direct labor hours Actual quantity used in October Dinect labor rate variance 960,000 bs 1,105,000 tbs 990,000 Ibs. 0,000 9,000 $5,400F Required: 1. Calculate the total cost of purchases for October variance based on quantity purchased (Indicate the effect of each variance by selecting" for favorable, "U" for unfavorable) Materials Price V