Answer the following while showing your steps and which F is for favorable and U is for unfavorable:

Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to the production of 2,000 units of a product: Actual Costs Standard Costs Direct materia 4,200 Ibs. $4.90 4,000 lbs. $5.20 Direct labor 5,700 hrs. $9.30 6,000 hrs. $9.50 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: Split cost: Standard cost: a. Materials price b. Materials efficiency$ Labor Variances Actual cost: Split cost: Standard cost: c. Labor rate d. Labor efficieny Check