Problem 6 (20 points) The Apoundright Company uses standard costing and has establis for its single product: Direct materials: 4 gallons at $8 per gallon Direct labor: 1.0 hours at $16 per hour Variable overhead: 0.5 hours at $8 per hour During November, the company made 6,000 units and incurred the following Direct materials purchased: 26,800 gallons at $8.20 per gallorn Direct materials used: 25,200 gallons Direct labor used: 5,600 hours at $15.30 per hour Actual variable overhead: $23,800 The company applies variable overhead to products on the basis of standard direct labor- hours. The materials price variance for November was: A. $5,360 F B. $5,360 U C. $5,040 F D. $5,040 U The materials quantity variance for November was: A. $22,960 U B. S2 2,400 U c. $9,600 U D. $9,840 U AQ x AP AQ x SP (for qty) AQxSP (for price) SQ x SP Price Variance Quantity Variance