Fill in the Missing Information in the Following Table

Essay

Fill in the missing information in the following table:
$\begin{array}{lrr}&\text { Direct } & \text { Direct } \\&\text { Material } & \text { Labor }\\\text { Actual quantity used per unit } & 4.0 \text { pounds } & \text { (c) } \\\text { Actual price paid } & \$ 8 \text { per pound } & \$ 12 \text { per hour } \\\text { Standard quantityper unit } & 2 \text { pounds } & 4 \text { hours }\\\text { Standard price per unit } & \text { (a) } & \$ 11 \text { per hour } \\\text { Price variance } & \$ 2,000 \text { (U) } & \$ 1,000 \text { (U) }\\\text { Usage variance }&(b)&\$700(F)\\\text { Flexible-budget variance }&\$500(U)&(d)\\\text { Actual quantity produced }&500 \text { units }\\\end{array}$