6 Problem C SHOW ALL WORK! per unit 7 Roseanne Company showed the following standard costs for each unit produced: 8 Direct materials per unit 1 pounds x $16 per pound 9 Direct labor 2.5 hours x $15 per hour The company produced 14300 units in August and had the following data: Materials purchases 4290 pounds Materials used 5493 pounds x $18 per pound Direct labor 42900 hours at total cost of $557700 Required: Compute the material and labor variances. Discuss possible explanations for each variance calculated (meaning, which might have happened?) Direct Material Variances: + Material price variance Actual Cost (purchased) Flexible Budget