Elite Builders constructs houses. The standard labor rate is $22 per hour and the standard number of hours is 15,000 hours per home. During the year, it constructed 12 homes using 16,000 labor hours per home and a rate of $28 per hour Calculate the Elite Builders' labor rate variance. $1.152,000 U $384.000 U $384,000 F $1,152,000 F During June, Cisco Company produced 13,000 chainsaw blades. The standard quantity of material allowed per unit was 1.5 pounds of steel per blade at a standard cost of 89 per pound. The actual cost was $8 per pound. The actual pounds of steel that Cisco purchased were 19,200 pounds. All materials purchased were used. Calculate Cisco's materials usage variance. $2,400 U $2,400 V $2,700 U $2,700 F Maxwell Company has developed the following Direct materials standards for one of its products. Direct materials: 10 pounds x $12 per pound The following activity occurred during the month of October: Materials purchased: Materials used: Units produced: 10,000 pounds costing $140,000 6,000 pounds 400 units The company records materials price variances at the time of purchase. The direct materials price variance is: $30,000 U $20,000 F $30,000 F $20,000 U