Question 6 Not complete Marked out of 9.09 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: Standard Costs Actual Costs Direct material 15,600 lbs. @ $5.3 16,000 lbs. @ $5.1 Direct labor 24,800 hrs. @$8.4 24,000 hrs. @ $8.7 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: $ 0 Split cost: $ 0 Standard cost: $ 0 a. Materials price $ 0 b. Materials efficiency $ 0 Labor Variances Actual cost: $ 0 Split cost: $ 0 Standard cost: $ 0 c. Labor rate $ 0 d. Labor efficieny $ 0 Check