Company manufactures 100-pound bags of fertilizer that have the following unit standard costs for direct materials and direct labor: Direct materials (100 lbs. @ exist 1.00 per lb.) Direct labor (0.5 hours at exist24 per hour) Total standard direct cost per 100 lb. bag The following activities were recorded for October: 1,000 bags were manufactured. 102, 500 lbs. of materials costing exist98, 400 were purchased. 102, 500 lbs. of materials were used. exist12, 200 was paid for 520 hours of direct labor. There were no beginning or ending work-in-process inventories. What is the total direct materials variance? Is it favorable or unfavorable? What is the direct material price variance? Is it favorable or unfavorable? What is the direct materials usage variance? Is it favorable or unfavorable? What is the total direct labor variance? Is it favorable or unfavorable? What is the direct labor rate variance? Is it favorable or unfavorable? What is the direct labor efficiency variance? Is it favorable or unfavorable? Explain possible reasons for the occurrence of the variances for 2, 3, 4, and 5