Casper Dog Toy Company produces fuzzy dog bone toys. To produce one dog bone toy the company uses 0.8 pounds at a cost of $12 per pound. It takes 1.5 hours for each unit and the workers are paid $15 per hour. For the year ended 2023, Casper Dog Toy Company had the following actual amounts: Actual amounts Number of dog toys produced Direct labor hours incurred Pounds of material used Cost of material purchased Direct labor cost 15,000 21,500 14,500 $11.50 per pound $15.35 per hour Required - Calculate the following variances: (You need to say Unfavorable or Favorable) a. Materials price variance b. Materials quantity variance c. Labor rate variance d. Labor efficiency variance

Casper Dog Toy Company produces fuzzy dog bone toys. To produce one dog bone toy the company uses 0.8 pounds at a cost of $12 per pound. It takes 1.5 hours for each unit and the workers are paid $15 per hour. For the year ended 2023, Casper Dog Toy Company had the following actual amounts: Required - Calculate the following variances: (You need to say Unfavorable or Favorable) a. Materials price variance b. Materials quantity variance c. Labor rate variance