Answer the following questions using the information below: Conica developed standard costs for direct material and direct labor. In 2011, Conica estimated the following standard costs for one of their major products, the bucket: Budgeted Quantity/unit Budgeted Price Direct Materials .20 per pounds $25 per pound Direct Labor .20 hours $15 per hour (Drag your answer to the blanks below) During July, Conica produced and sold 5,000 containers purchasing and using 1,100 pounds of direct materials at an average cost per pound of $24 and incurring 525 direct manufacturing labor hours at an average wage of $14.75 per hour. July's direct material price variance was: July's direct labor rate variance was: $2,500 unfavorable $375.00 unfavorable $1,100 favorable $248.75 favorable $131.25 favorable $1,400 favorable None of these is correct. None of these is correct df Dave