to. How much the costs and income should have been for the budgeted units. b. The difference between budgeted expenses and actual expenses for budgeted units. c. The difference between current variable costs and budgeted variable costs. d. The difference between current expenses at the current level and budgeted expenses at the current level. 22. Production records indicate that the actual amount of direct materials used in production last month totaled 45,000 pounds at $ 4.00 per pound to produce 10,000 units. Engineering standards state that five (5) pounds of direct materials is required for each unit of product finished at 5.00 per pound. How much does the quantity variance total? to. $ 25,000 favorable. b. S 25,000 unfavorable. c. $ 20,000 favorable. d. S 20,000 unfavorable. 23. Using the information in question 22, determine the price variance. to. $ 45,000 favorable. b. S 45,000 unfavorable. c. $ 50,000 favorable. d. S 50,000 unfavorable. 24. The formula used to calculate the variation in the price of direct labor (labor rate variance) is: to. (Actual hours X Standard Price) - (Standard Hours X Standard Price). b. (Real Hours X Real Price) - (Real Hours X Standard Price). c. (Real Hours X Standard Price) - (Standard Hours X Real Price). d. (Real Hours X Real Price) - (Standard Hours X Standard Price). 25. Which of the following is considered part of the financial budget? to. Administrative and Sales Expenses Budget. b. Proforma Statement of Financial Position. c. Indirect Manufacturing Cost Budget d. Sales Budget