QUESTION 4 The following information is for Parker Company's July production: Standards: Material 3.0 feet per unit 54.20 per foot Labor 2.5 hours per unit @ $7.50 per hour Actual: Production 2.750 units produced during the month Material 8.700 feet used: 9.000 feet purchased @ $4.50 per foot 7.000 direct labor hours @ $7.90 per hour (Round all answers to the nearest dollar.) Refer to Parker Company. What is the material price variance (calculated at point of purchase)? Labor $2,610 F 0 $2,700 U 0 $2,610 U $2,700 F The following information is for Parker Company's July production: Standards: Material 3.0 feet per unit @ $4.20 per foot Labor 2.5 hours per unit $7.50 per hour Actual: Production 2.750 units produced during the month Material 8.700 feet used: 9,000 feet purchased @ 54.50 per foot Labor 7.000 direct labor hours 57.90 per hour (Round all answers to the nearest dollar.) Refer to Parker Company. What is the material quantity variance? 0 $1,890 U $3,105 F $3,105 U $1.050 F The following information is for Parker Company's July production: Standards: Material 3.0 feet per unit @ $4.20 per foot Labor 2.5 hours per unit @ $7.50 per hour Actual: Production Material 2.750 units produced during the month 8.700 feet used: 9.000 feet purchased $4.50 per foot Labor 7,000 direct labor hours @ $7.90 per hour (Round all answers to the nearest dollar.) Refer to Parker Company. What is the labor rate variance? O $3,480 F $2,800 U $2,800 F 0 $3,480 U The following information is for Parker Company's July production: Standards: Material 3.0 feet per unit @ $4.20 per foot 2.5 hours per unit @ $7.50 per hour Labor Actual: Production Material 2,750 units produced during the month 8,700 feet used: 9,000 feet purchased @ $4.50 per foot Labor 7,000 direct labor hours @ $7.90 per hour (Round all answers to the nearest dollar.) Refer to Parker Company. What is the labor efficiency variance? O $1,875 F $ 938 U $1,125 U $1.875 U