QUESTION 1 The standard and actual prices per pound of raw material are 54 and 54.50 respectively. A total of 10,400 pounds of raw material was purchased and used to produce 5.000 units. The quantity standard allows 2 pounds of the raw material per unit produced. What is the material quantity variance? $400 unfavorable $2,000 unfavorable $1600 unfavorable $5,200 unfavorable QUESTION 2 Use the following data to find the total direct labor cost variance if the company produced 2.500 units during the period Direct labor standard (4 hrs. @ $7/hr.) $28 per unit Actual hours worked 12,250 Actual rate per hour $750 56,125 unfavorable $7,000 favorable $7,000 unfavorable 56.125 favorable