Table 2 The standard costs for Hovland, a maker of widgets, appear below. The overhead rate was based on production of 2,200 widgets. Direct materials 3 lbs. @.75 per lb. $2.25 Direct labor 0.4 hrs. @ $12 per hr. 4.80 Variable overhead 0.4 hrs. @ $9 per hr. 3.60 Fixed overhead 0.4 hrs. @ $5 per hr. 2.00 Total standard cost per unit $12.65 The actual costs for 2,000 widgets were: Direct materials 7,100 lbs. @ $.85 per lb. Direct labor 850 hrs. @ $10.10 per hr. Variable overhead $7,400 Fixed overhead $4,350 11. Refer to Table 2. The materials price variance is: A. $710 U C. $500 U B. $375 U D. $660 U 12. Refer to Table 2. The materials quantity variance is: A. $375 U C. $600 U B. $505 F D. $825 U