Material and Labor Variances The following actual and standard cost data for direct materials and direct labor relate to Hadley Company's production of 2,000 units of a product: Actual Costs Standard Costs Direct material 3,900 lbs. @ $5.20 4,000 lbs. @ $5.10 Direct labor 6,200 hrs. @ $8.40 6,000 hrs. @ $8.60 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. Materials Variances Actual cost: Split cost: Standard cost: a. Materials price b. Materials efficiency AA AA - Labor Variances - - - Actual cost: Split cost: Standard cost: c. Labor rate d. Labor efficieny