Anaco has set up the following standards per finished unit for direct materials and direct manufacturing labor: Direct materials: 5lbs. at $8 per lb $40.00 Direct manufacturing labor: 2 hours at $12 per hour $24.00 The number of finished units budgeted for March was 5,000; 4800 units were actually produced. Actual results in March were: Direct materials: 24,250 lbs. used Direct manufacturing labor: 9,900 hours $116,000 Assume there was no beginning inventory of either direct materials or finished goods. During the month direct materials purchases amounted to 25,000lbs, at a total cost of $205,000. Input price variances are isolated upon purchase. Input efficiency variances are isolated at the time of usage

Compute the price and efficiency variances for direct materials and direct manufacturing labor. Indicate if the variances are favorable (F) or unfavorable (U).