3.Dbaye Marine Stores (DBS) Company manufactures decorative fittings for luxury yachts which require highly skilled labor, and special metallic materials. DBS uses standard costs to prepare its flexible budget. For the first quarter of 2020, direct material and direct labor standards for one of their popular products were as follows: Materials: 1.5 pounds per unit; cost $4.00 per pound Labor: 2.0 hours per unit; cost $18.00 per hour During the first quarter, DBS produced 5,000 units of this product. Actual direct materials costs were $29,750. Actual direct labor costs were $184,800. For purposes of calculating the flexible budget variances, a) What is the direct labor cost variance? b) What is the direct materials cost variance? Include calculations in your answers.