Topaz Company makes one product and has set the following standards for materials and labor: Direct Materials Direct Labor Standard quantity or hours per unit ? pounds 2.20 hours Standard price or rate ? per pound $ 8.50 per hour Standard cost per unit ? $ 18.70 -------------------------------------------------------------------------------- During the past month, the company purchased 6,100 pounds of direct materials at a cost of $16,470. All of this material was used in the production of 1,200 units of product. Direct labor cost totaled $19,260 for the month. The following variances have been computed: Materials quantity variance $ 1,180 U Total materials spending variance $ 345 F Labor efficiency variance $ 4,250 F