0, T-Top Company produces single-colored T-shirts. The following standards for one T-shirt have been established: $1.00 tndord Direct materials (0.5 yds. @ $2) Direct labor (0.15 hrs. @ $9.00) Standard prime cost 1.35 $2.35 During the year 20,700 yards of fabric were purchased and used in the production of 41,300 T-shirts. The actual prime costs w Direct materials Direct labor @o.acz 57,226 (for 6,200 hrs.) Required Compute the materials and abor variances associated with the production of T-shirts last year, labeling each variance as favorable or unfavorable