PA13. LO 8.5 Recompute the variances from EA13 using $0.725 as the standard cost of the material and $14 as the standard labor cost per hour. How has your explanation of the variances changed? PA13. LO 8.5 Recompute the variances from EA13 using $0.725 as the standard cost of the material and $14 as the standard labor cost per hour. How has your explanation of the variances changed? EA13. LO 8.5 Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours Standard hours for units produced $1.00 $0.90 100 110 $ 15 $ 16 200 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances