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The hiring of experienced high quality workers at a higher price than standard might affect which of the following variances? materials purchase price variance materials quantity variance labor rate variance, labor efficiency variance, and the materials quantity variance. labor rate variance, materials purchase price variance and the materials quantity variance labor efficiency variance, materials purchase price variance and the materials quantity variance Selected data for Jones Company reveals the following: Direct labor efficiency variance: $150,000 favorable Actual direct labor hours used: 8,000 Standard quantity (SQ) of direct labor hours allowed: 10,000 Actual direct labor cost: $400,000 The standard price (SP) of direct labor per hour is. $10 $50 $75 $150 Cannot be determined with the information provided