Alpha Company produces toys for national distribution. The standard cost card for one of its products shows the following:

	Standard allowed	Standard cost per unit
Direct Materials	12 ozs. @ $0.56 per oz.	$6.72
Direct Labor	2 hrs. @ $5.50 per hr.	11.00

During the month of December, Alpha produced 2,000 units of the product. Actual purchasing and production figures for the month were:

Direct Materials Purchased: 28,000 ozs., at a total cost of $14,560

Direct Materials Used in Production: 27,000 ozs.

Direct Labor Incurred: 3,900 hrs. at a total cost of $22,425

REQUIRED: Compute the following standard cost variances and clearly indicate whether the variance is Favorable (F) or Unfavorable (U). You must show your calculations to receive credit and show calculations please.