Emerald Marine Stores Company manufactures decorative fitting for luxury yachts that require highly skilled labor, and special metallic materials. Emerald uses standard costs to prepare its flexible budget. For the first quarter of 2015, direct material and direct labor standards for one of their popular products were as follows Direct material 3 pounds per unit; $4 per pound Direct labor; 4 hours per unit; $15 per hour Emerald product 5, ooo units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the company used 25,000 direct labor hours and actual total direct labor costs were $ 375,000. How much is the labor efficiency variance? $75,000 U $75,000F $300,000 F $300,000U Faas Marine Stores Company manufactures decorative fittings for luxury yachts that require highly skilled labor, and special metallic materials. Faas uses standard costs to prepare its flexible budget. For the first quarter of 2011, direct material and direct labor standards for one of their popular products were as follows: Materials: 1.5 pounds per unit; $4.00 per pound Labor 2.0 hours per unit; $18.00 per hour During the first quarter, Faas produced 5,000 units of this product. At the end of the quarter, an examination of the materials records showed that the company used 7,000 pounds of materials and the direct materials cost variance was $1, 750 U. Which of the following would be a logical explanation for this variance? The company used more labor hours than allowed by the standards. The company paid a higher rate for labor than allowed by the standards. The company used greater quantity of materials than allowed by the standards. The company paid a higher price for the material than allowed by the standards. Emerald Marine Stores Company manufactures decorative fittings for luxury yachts that require highly skilled labor, and special metallic materials. Emerald uses standard costs to prepare its flexible budget. For the first quarter of 2015, direct material and direct labor standards for one of their popular products were as follows: Direct materials: 3 pounds per unit; $4 per pound Direct labor: 4 hours per unit; $15 per hour Emerald produced 5,000 units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the direct labor cost variance was $75,000 F. Which of the following would be a logical explanation for this variance? The company used fewer labor hours than allowed by the standards. The company paid a lower rate for labor than allowed by the standards. The company used a tower quantity of materials than allowed by the standards. The company paid a tower price for the materials than allowed by the standards