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Cheyenne Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials ( 6 pounds

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Cheyenne Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (6 pounds at $2 per pound) $12
Direct labor (2 hours at $12 per hour) $24
During the month of April, the company manufactures 350 units and incurs the following actual costs.
Direct materials purchased and used (2,200 pounds) $4,840
Direct labor (710 hours) $8,165
Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable.
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