The Seneca Corporation manufactures lamps. It has the following standards for direct materials and direct labor per lamp. Direct materials per pound 10lbs. at $5.40 $54 Direct labor 5 hours at $29/hour $14.50 Budgeted production was 9760 lamps. Actual production was 9600 lamps. Direct materials used in production were 95,500 pounds. Direct materials purchased (note purchased) 97,600 at a total cost of $536,800. Direct labor used 4700 hours for a total cost of $143,350. The following three questions pertain to Seneca Corporation. Question 5: What is the price variance related to the material actually used in production? (Hint: there are two possible price variances that can be calculated: price variances based on materials purchased, and prices variances based on materials used. When more material is purchased than is used, there is potentially a difference between these two price variances.) Group of answer choices O a. $9,550 (U) b. $7,350 (U) c. $12,250 (F) d. $14,650 (F) Question 6 What is the efficiency variance related to the materials used in production? Group of answer choices O a. $6,200 (U) b. $2,300 (U) c. $2,700 (F) d. $1,350 (F) Question 7: What is the flexible budget variance in labor? Group of answer choices a. $12,775 (U) b. $3,550 (U) c. $1,525 (U) d. $4,150 (U)