Multiple choice B points each Use the folowing information to answer Qestios 1-: Cost standards for one unit of product no.C77 3 pounds at $2.50 per pound 5 hours at $7.50 per hour $ 7.50 37.50 Direct material Direct labor Actual results: Units produced 7.800 units Direct material purchased Direct material used 26,000 pounds at $2.70 23,100 pounds at $2.70 40,100 hours at $7.30 $ 70,200 62,370 292,730 Direct labor Assume that the company computes variances at the earliest point in time. 1. The direct-material quantity variance is: A. $750F B. $750U. C. $6,500U D. $7,250U E. None of the answers is correct. 2. The direct-material price variance is: A. $4,620F B. $4,620U. C. $5,200F. D. $5,200U. E. None of the answers is correct 3. The direct-labor rate variance is: A. $7,800F. B. $7,950F C. $8,020F D. $8,000U. E. None of the answers is correct