Take-home Problems, Final Exam SHOW YOUR COMPUTATIONS Questions 1-4, 16 points total Ruth Co. uses a standard costing system. Pertinent standard costs for one unit are as follows: During the year it produced and sold 20,000 units and purchased 40,500 yards of direct materials at $4.10 per yard. The average labor rate was $12.25 per hour and 7,700 direct labor hours were worked. Using the data given, compute the variances below. 1. Direct materials price variance. a. $4,050.00(U) b. $4,000.00 (F) c. $4,050.00(F) d. $4,000.00(U) e. Some other amount. 2. Direct materials quantity variance. a. $2,050.00(F) b. $2,000.00(F) c. $2,050.00(U) d. $2,000.00(U) e. Some other amount. 3. Direct labor rate variance. a. $1,925.00(F) b. $2,000.00(U) c. $2,000.00(F) d. $1,925.00(U) e Some other amount. 4. Direct labor efficiency (hours) variance. a. $3,675.00(F) b. $3,600.00( F) c. $,675.00(U) d. $3,600.00(U) e Some other amount