Menu s My Subscri Material and Labor Variances The following of 2,000 units of a product actual and standard cost data for direct material and direct labor relate to the production Fin Actual Costs Standard Costs Direct material 3,900 lbs.@ $5.30 4,000 lbs.$5.10 Direct labor 6,200 hrs.@ $8.40 6,000 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. Materials Variances Actual cost Split cost Standard cost: a. Materials price b. Materials efficiency Labor Variances Actual cost Split cost: Standard cost: c. Labor rate $ d. Labor efficieny $