5. The standard cost for a unit is: Direct materials: 5 lbs x $10 Direct Labor: 2 hours x $15 Variable Overhead 2 hours x $8 $50 $30 $16 Actual results: 2,100 units produced. 10,000 lbs. of material were purchased for $98,000, and used in production. 4,280 labor hours used at a cost of $62,060. Actual variable overhead was $35,524. The direct materials quantity variance will be: 5 (1 Point) $2,000 favorable $2,000 unfavorable $5,000 favorable $5,000 unfavorable = 6. The standard cost for a unit is: Direct materials: 5 lbs x $10 Direct Labor: 2 hours x $15 Variable Overhead 2 hours x $8 $50 $30 $16 Actual results: 2,100 units produced. 10,000 lbs. of material were purchased for $98,000, and used in production. 4,280 labor hours used at a cost of $62,060. Actual variable overhead was $35,524. The direct labor rate variance will be: (1 Point) $2,140 favorable $1,200 favorable O $1,200 unfavorable $2,000 unfavorable