UF AC 2011 Schadewald Introduction to Managerial Accounting Spring 2021 9-3. Direct materials and direct labor variances. Clover Company manufactures carpet. Budgeted production is 10,000 yards. Direct material standards are 10 pounds per yard at a price of $4.50 per pound. Direct labor standards are 0.5 hours per yard at a rate of $30 per hour. Here are data regarding Clover's production activity Actual production 9,850 yards Actual direct materials purchased and used (98,000 pounds) $460,600 Actual direct labor costs (4,900 hours) $154,350 a. Compute the direct materials spending variance, price variance, and quantity variance b. Compute the direct labor spending variance, rate variance, and efficiency variance. ACC Video U 80 auta 2 3 4 5 6 7 W E R