Acme Inc. has the following information available: ActualpricepaidformaterialStandardpriceformaterialActualquantitypurchasedandusedinproductionStandardquantityforunitsproducedActuallaborrateperhourStandardlaborrateperhourActualhoursStandardhoursforunitsproduced$1.00$1.20100110$15.00$16.00200220 Calculate the Material Price Variance and indicate if the variance is favorable or unfavorable Calculate the Material Quantity Variance and indicate if the variance is Javoravie ur uryuvurumic Calculate the Labor Efficiency (Time) Variance and indicate if the variance is favorable or unfavorable