Costello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-2 pounds plastic at $5 per pound $ 10.00 Direct labor-2 hours at $12.00 per hour 24.00 Variable manufacturing overhead 8.00 Fixed manufacturing overhead 6.00 Total standard cost per unit $48.00 The predetermined manufacturing overhead rate is $7 per direct labor hour. It was computed from a master manufacturing overhead budget based on normal production of 20,000 direct labor hours (10,000 units) for the month. The master budget showed total variable costs of $80,000 ($4.00 per hour) and total fixed overhead costs of $60,000 ($3.00 per hour). Actual costs for October in producing 9,700 units were as follows. Direct materials (20,000 pounds) $ 98,000 Direct labor (19,600 hours) 239,120 Variable overhead 79,100 Fixed overhead 59,000 Total manufacturing costs $475,220 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. Instructions Compute the following variances for Costello Corporation and indicate whether the variance is favorable or unfavorable (F or U). Round computations and final answers to 0 decimal places. Show ALL computations or NO credit given. 1. Total materials variance 2. Direct materials price variance 3. Direct materials quantity variance 4. Total labor variance 5. Direct labor price variance 6. Direct labor quantity variance 7. Total overhead variance