TB MC Qu. 10-74 Use the information... Cost standards for one unit of product no. C77: Direct material Direct labor Actual results: Units produced Direct material purchased Direct material used Direct labor 3 pounds at $2.50 per pound $ 7.50 6 hours at $7.60 per hour 45.60 6,700 units 26,700 pounds at $2.70 $ 72,090 19,800 pounds at $2.70 53,460 40,800 hours at $7.40 301,920 Use the information to compute the following variances. The direct-labor rate variance is