Comprehensive Variance Problem The Antikron Company produces rubber seals used in the aerospace industry. Standards call for three pounds of material at $$2\mathrm{.}50$ per pound for each seal. The standard cost for labor is $1\mathrm{.}5$ hours at $$15$ per hour. Standard overhead is $$10$ per unit. For the year $2021,$ expected production is $130,000$ seals with fixed overhead of $$130,000$ and variable overhead of $$9$ per seal. During $2021,$ a total of $125,000$ seals were produced. The company purchased $455,000$ pounds of material for $$1,150,000.$ Production required $425,000$ pounds of material. The cost of direct labor incurred was $$2,900,000$ with an actual average wage rate of $$15\mathrm{.}25$ per hour. Actual overhead for the year was $$900,000.$

Required

Prepare a summary of the variances, and indicate which variances should be investigated.