Dart Company developed the following standard costs for its product for 2016: DART COMPANY Standard Cost Card Standardowantite Standarderies Standard Cost Cost Elements S20 5 4 pounds Direct materials 10 Direct labor 2 hours 2 hours Variable overhead Fixed overhead 2 hours The company expected to work at the 120,000 direct labor hours level of activity and produce 60,000 units of product. Actual results for 2016 were as follows: 56,800 units of product were actually produced. Direct labor costs were $1,092,000 for 112,000 direct labor hours actually worked. Actual direct materials purchased and used during the year cost $1,108,800 for 231,000 pounds. Total actual manufacturing overhead costs were S680,000. Instructions Compute the following variances for Dart Company for 2016 and indicate whether the variance is favorable or unfavorable. 1. Direct materials price variance. 2. Direct materials quantity variance. 3. Direct labor price variance. 4. Direct labor quantity variance. 5. overhead controllable variance. 6. Overhead volume variance