Please use the following information for a company that makes and sells clocks for problems 5-8: Actual number of clocks produced 4,000 Standard quantity of 2 pounds of material per unit Standard price of $7 per pound Standard quantity of 3 hours of direct labor per unit Standard rate of $12 per direct labor hour Actual results: Direct materials cost 9,000 pounds of material purchased and used costing $5 per pound Direct labor cost 15,000 hours of direct labor used costing $11 per direct labor hour 5. The direct material price variance would be A) $4,000 F B) $15,000 F C) $18,000 F D) $7,000 U E) $36,000 U 6. The direct material quantity variance would be B) $4.000 F B) $15,000 F C) $18,000 F D) $7,000 U E) $36,000 U 7. The direct labor rate variance would be C) $4,000 F B) $15,000 F C) $18,000 F D) $7,000 U E) $36,000 U 8. The direct labor efficiency variance would be D) $4,000 F B) $15,000 F C) $18,000 F D) $7,000 U E) S36,000 U