(Question 1)

(Question 2)

The actual and standard direct materials costs for producing a specified quantity of product are as follows 51,000 lbs. at $5.05 50,000 lbs. at $5.00 $257,550 $250,000 Actual Standard The direct materials price variance is: O $50 unfavorable O $2,500 unfavorable O $2,550 unfavorable $7,550 unfavorable Question 8 2 pts Using the information in Question #7 above, the direct materials quantity variance is: O $5,000 unfavorable $5,050 unfavorable $5,000 favorable O $5,050 favorable