Thomas Enterprises purchased 63,900 pounds (cost = $492,030) of direct material to be used in the manufacture of the company's sole product. According to the production specifications, each completed unit requires five pounds of direct material at a standard cost of $8.00 per pound. Direct materials consumed by the end of the period totaled 61,400 pounds in the manufacture of 12,600 finished units. An examination of Thomas' payroll records revealed that the company worked 24,000 labor hours (cost = $331,520) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $13.60 per hour. Use the Information to compute the following variances. Thomas' direct-material quantity varlance was: Multiple Choice $12,800 F. $21,800 F. $12,800 U. $21,800 U. None of the answers is correct. Thomas Enterprises purchased 57,000 pounds (cost = $353,400) of direct material to be used in the manufacture of the company's sole product. According to the production specifications, each completed unit requires five pounds of direct material at a standard cost of $6.60 per pound. Direct materials consumed by the end of the period totaled 54,500 pounds in the manufacture of 11,100 finished units. An examination of Thomas' payroll records revealed that the company worked 22,400 labor hours (cost = $264,320) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $12.10 per hour. Use the Information to compute the following variances. Thomas' direct-labor efficiency varlance was: Multiple Choice $2,360 F. $2,360 U. O $2,420 F. $2,420 U. None of the answers is correct