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QUESTION 3 The following actual and standard cost data for direct material and direct labor relate to the production of 6,000 units of product: Actual

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QUESTION 3 The following actual and standard cost data for direct material and direct labor relate to the production of 6,000 units of product: Actual Costs Standard Costs Direct Material 7,600 ib. @ $2.85 8,000 ib. @ $2.50 Direct Labor 3,570 hrs. @$19.80 3,500 hrs. @ $20.00 What is the materials efficiency variance? What is the labor rate variance? TTT Ariel 3 (12pt) T.E.E.5. 2

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