Problem 3. In carly 201z, Duncan Manufacturing Inc, had budgeted for the production and sale of 20,000 units per unit. The following information is available regarding the standard cost for at a sales price of s25 cach unit S6.00 (3 pounds at $2.00 per Ib) $3.50 (10 minutes of assembly at $.35 per minute) Direct materials Direct labor Actual results for 2012 were determined to be as follows: Number of units produced and sold 18,000 units $477,000 ($26.5 per unit) SI 19925 (58,500 ibs purchased and used at $2.05 per lb) $51,300 (171,000 minutes at S.30 per minute) Sales revenue: Direct materials cost: Direct labor cost: Required: Compute each of the following variances. Indicate whether the variance is favorable (F) or unfavorable (U). A. Sales price variance (26.5 -25/s,ooo R Di200 F 52po (2-2.05 B. Direct materials price variance 2,925 U Direct materials usage variance C. 2 (450) D. Direct labor rate variance E. Direct labor efficiency variance