QUESTION 5 A company has established 5 pounds of Material J at $2 per pound as the standard for the material in its Product Z. The company has just produced 1,000 units of this product, using 5,200 pounds of Material J that cost $9,880. The direct materials price variance is A. $120 favorable OB. $520 unfavorable C. $400 favorable D. $520 favorable QUESTION 6 A job was budgeted to require 3 hours of labor per unit at $8.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at a total labor cost of $198,000. What is the labor efficiency variance? A. $22,000 unfavorable. B. $16,000 unfavorable C. $6,000 unfavorable. D. $16,000 favorable. QUESTION 7 A job was budgeted to require 3 hours of labor per unit at $8.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at a total labor cost of $198,000. What is the direct labor rate variance? A. $16,000 unfavorable B. $22,000 unfavorable C. $6,000 unfavorable D. $22,000 favorable