Materials and Labor Vrances At the beginning of the year, Orig Company has the following standard cost sheet for one of its plastic products Direct materie 14001 520.00 Direct bor ( 2.515.00) 30.00 Standard prime cost per $50.00 The actual suits for the year are as follow Units produced: 450,000 D. Materiais purchased 3,150,000 punts $510 Materials used: 2.700.000 pounds d. Direct labor945,000 hours $11.16 Required: 1. Computernice and usage variancestor materia. Enter amounts as portowe numbers and select Forne er weer Material province Matalage variance 2. Compare the laborate and later atency variances Enter amounts sportive numbers and wet vorable or unferable Laborrate vanance Labor efficiency varece