Digital Boards, Inc. manufactures a product that has the following standard costs:

Direct materials: 12 sq. mm. at $7.50 per sq. mm. $90.00

Direct labor: 5.5 hours at $22.00 per hour 121.00

Total $211.00

The following information pertains to July:

Direct material costs 14,600 sq. mm. at $7.40 per sq. mm., or $108,040

(quantity purchased and quantity used are the same).

Direct labor: 6,500 hours at $22.50 per hour, or $146,250

Actual completed production: 1,200 units

Required:

Calculate the following variances andindicate whether each variance is favorable or unfavorable using F for favorable and U for unfavorable.

Direct-material price
Direct-material quantity
Direct-labor rate
Direct-labor efficiency

Show computations here: