Exercise 4 French Co. makes berets out of a special dyed wool fabric. During the month, the company made 6000 berets using 6600 decimeters of fabric. The fabric cost 130680 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 18 Euros per decimeter. What is the actual price of fabric per decimeter? What is the standard quantity given the number of berets produced? What is the amount of material price variance? Is the MPV favorable or unfavorable? What is the amount of material quantity (efficiency) variance? Is the MQV favorable or unfavorable? Exercise 5 Lunch Co. makes sandwiches for convenience stores. Last month, it made 17500 sandwiches using 700 direct labor hours. It paid its employees a total of $5670. According to company standards, employees should make 20 sandwiches per hour and be paid $9 per hour. What is the actual labor rate? What is the standard hours allowed for the number of sandwiches made? What is the amount of labor rate (price) variance? Is the LRV favorable or unfavorable? What is the amount of labor efficiency (quantity) variance? Is the LEV favorable or unfavorable