, SAMPLE: Cascade Inc. has provided the following information: a. Standards: Direct materials Direct labor Per unit 5 lb $3.50/lb $17.50 2 hours @ $12/hour24.00 Variable overhead 2 hours @ 10/hour 20.00 15.00 Total $76.50 Fixed overhead Budgeted production 5,000 units Actual results Direct materials 30,100 lbs $107,470 Direct labor 11,120 actual hours $139,600 Variable overhead Fixed overhead $108,210 $76,300 5,400 units Units produced Calculate the: a. direct materials price variance. b. direct materials quantity variance. c. direct labor rate variance. d. direct labor efficiency variance