Summerand Co. manufactures portable fans. See below for production information for the most recent year: Units produced 15,000 Standard pounds of direct material/unit 2 Actual pounds of direct material used for units produced 32,000 Direct material quantity variance $6,000 U Direct material price variance $5,000 F Standard direct-labor hours/unit 3 Actual direct-labor hours used for units produced 40,000 Standard direct-labor rate/hour $ 14.00 Actual direct-labor cost $ 720,000 The actual price paid per pound of direct material is (round to nearest cent): (Remember that Favorable/Unfavorable must be correct for the variance) O $2.84 $3.16 $3.00 O $2.50 Use the same data from the 1st question above. The direct labor rate variance is: O $160,000 Unfavorable O $155,000 Favorable O $155,000 Unfavorable O $160,000 Favorable Use the same data from the 1st question above. The direct labor efficiency variance is: O $70,000 Favorable O $70,000 Unfavorable $65,000 Unfavorable O $75,000 Unfavorable