Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product:

Direct material	7,800	lbs. @	$5.30	8,000	lbs. @	$5.10
Direct labor	12,400	hrs. @	$8.40	12,000	hrs. @	$8.70

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable.

Actual cost:	$Answer
Split cost:	$Answer
Standard cost:	$Answer
a. Materials price	$Answer	AnswerFU
b. Materials efficiency	$Answer	AnswerFU

Actual cost:	$Answer
Split cost:	$Answer
Standard cost:	$Answer
c. Labor rate	$Answer	AnswerFU
d. Labor efficieny	$Answer	AnswerFU