The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.4 pounds $13.20 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 4,800 pounds $62,880 4,300 pounds 700 units The direct materials purchases variance is computed when the materials are purchased. What is the materials price variance for the month? Multiple Choice 0 $480 U 0 $430F $430 F 0 $480 F $480 F 0 $430U $430 U The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.1 hours $14.40 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 8,700 hours $129,195 1,000 units What is the labor rate variance for the month? Multiple Choice 0 $450 F 0 $3,915 U 0 $450 U 0 $3,915 F $3,915 F Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours 7.4 grams 0.5 hours 0.5 hours Direct materials Direct labor Variable overhead Standard Price or Rate $ 2.00 per gram $20.00 per hour $ 7.00 per hour The company produced 5,200 units in January using 39,310 grams of direct material and 2,380 direct labor-hours. During the month, the company purchased 44,400 grams of the direct material at $1.70 per gram. The actual direct labor rate was $19.30 per hour and the actual variable overhead rate was $6.80 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for January is: Multiple Choice 0 $4,400 F 0 $4,400 u 0 $4,246 U 0 $4,246 F $4,246 F