4. Standard cost systems variance computations Livingston Corporation recently implemented a standard cost system. The companys cost accountant has provided the following data to perform a variance analysis for May: Compute the following variances. Indicate whether each variance is favorable (F) or unfavorable (U): (a) Materials price variance: $__________ (b) Materials quantity variance: $__________ (c) Labor rate variance: $__________ (d) Labor efficiency variance: $__________ (e) Overhead spending variance: $__________ (f) Overhead volume variance: $__________