Remaining Time: 1 hour, 29 minutes, 14 seconds. Question Completion Status: A Moving to another question will save this response. Question 3 A company which uses a standard costing system had the following variances at the end of the period: Direct labor rate variance $5,000 favorable Direct labor efficiency variance $6.000 favorable Direct materials price variance $10,000 unfavorable Direct materials usage variance $1,500 favorable if the variances are considered immaterial, the correct disposition of the variances at the end of the period will resulting An increase in work-in-process inventory of $2,500 b. An increase in cost of goods sold of $2.500 A decrease in work in process inventory of $2,500 A decrease in cost of goods sold of $2.500