QUESTION 23 Not yet answered Points out of 10.00 P Flag question Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual Costs Standard Costs Direct material 5,850 lbs. $5.30 6,000 lbs. $5.10 Direct labor 9,300 hrs. $8.40 9,000 hrs. $8.70 Determine the following variances: negative signs wit Favorable or "U" for Unfavorable. Materials Variances Actual cost: Split cost: Standard cost: a. Materials price b. Materials efficiency $ Labor Variances Actual cost: Split cost: Standard cost: c. Labor rate d. Labor efficieny