QUESTION 57 The following information is to be used to answer the next 4 Questions (57, 58, 59, & 60). Western Company produces leather backpacks. The standard cost card for the product is: Direct Materials (0.9 yards @ $22.00 per yard) $19.80 Direct Labor (1.3 Hours $9.00 per hour) $11.70 During a recent period the company produced 15,000 units of finished product. Various costs associated with the production of these units are given below: Direct Materials purkhased (14,500 yards @ $21.15 per yard) $306,675 Direct Materials used in production 14,100 yards Direct Labor cost incurred (18,800 hours $8.50 per hour) $159,800 The company records all variances at the earliest point in time. The direct materials price variance for the period is: $12,325 F $12,325 U $3,525 U $3,525 F None of these QUESTION 58 The direct materials quantity variance for the period is: $22,000 U $22,000 F $13,200 U None of these $13,200 F QUESTION 59 The direct labor rate variance for the period is: $6,300 U None of these $6,300 F $9,400 F $9,400 V QUESTION 60 The labor efficiency variance for the period is: $9,400 U $9,400 F None of these $6,300 U $6,300 F