Hobbes, Inc. is a manufacturer of designer bowls. The standard direct labor time is 0.5 hours per bowl at a cost of $16.00 per hour. The actual result for one month's production of 6,400 bowls was 0.1 hours per bowl, at a cost of $12.00 per hour. Calculate the direct materials cost variance and the direct materials efficiency variance. Hobbes, Inc. is a manufacturer of designer bowls. The standard direct labor time is 0.5 hours per bowl at a cost of $16.00 per hour. The actual result for one month's production of 6,400 bowls was 0.1 hours per bowl, at a cost of $12.00 per hour. Calculate the direct materials cost variance and the direct materials efficiency variance