December 2018, the company has collected the following production information. Actual Standard 14,500 14,500 3.50 16,000 2.80 Cost and Production Information Direct Material Purchase units Units used Cost per unit Direct Labor Working hours Hourly rate Production Overhead Overhead involved Overhead used 2,800 9.60 3,200 10.50 86,500 90,000 Production overhead used is based on direct labor hours. The normal capacity for the month is 2,700 direct laber hours Direct material price variance Variance of direct material quantity Direct laber rate variance (Variance of direct laber efficiency State whether favourable or unfavourable