Direct labor and material variances Signell Corporation manufactures small motors for use in servomechanisms. It has established the following labor and material standards for each motor armature:

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REQUIRED Labor Copper wire Core 1.2 hrs. $7.00 per hour 600 ft. 1.20 per unit 1 The following production data are accumulated for May: Wire purchased Cores purchased Armatures produced Wire used... Cores used Labor used. .70 per unit 20,000,000 ft. @ $.0016 per ft. 50,000 $.75 each 20,000 12,180,000 ft. 20,400 25,000 hrs. @ $7.05 per hr. Calculate all labor and material variances. Be specific and provide detailed calculations in your work.