Costello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials1 pound plastic at $7.29 per pound $ 7.29 Direct labor0.50 hours at $12.00 per hour 6.00 Variable manufacturing overhead 3.50 Fixed manufacturing overhead 3.50 Total standard cost per unit $20.29 The predetermined manufacturing overhead rate is $14 per direct labor hour ($7.00 0.50). It was computed from a master manufacturing overhead budget based on normal production of 2,550 direct labor hours (5,100 units) for the month. The master budget showed total variable costs of $17,850 ($7.00 per hour) and total fixed overhead costs of $17,850 ($7.00 per hour). Actual costs for October in producing 3,400 units were as follows. Direct materials (3,570 pounds) $ 27,096 Direct labor (1,540 hours) 18,896 Variable overhead 18,324 Fixed overhead 7,286 Total manufacturing costs $71,602 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the materials and labor variances. (Round answers to 0 decimal places, e.g. 125.) Total materials variance $ Neither favorable nor unfavorableFavorableUnfavorable Materials price variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials quantity variance $ Neither favorable nor unfavorableUnfavorableFavorable Total labor variance $ FavorableUnfavorableNeither favorable nor unfavorable Labor price variance $ Neither favorable nor unfavorableUnfavorableFavorable Labor quantity variance $ Neither favorable nor unfavorableUnfavorableFavorable (b) Compute the total overhead variance. Total overhead variance $ UnfavorableNeither favorable nor unfavorableFavorable