During January, Concord Co. incurs 2,030 hours of direct labor at an hourly cost of $11.80 to produce 1,100 units of its finished product. Concord's standard labor cost per unit of output is $22(2 hours $11.00). Compute the total, price, and quantity labor variances for Concord Co. for January. Identify whether each variance is favorable or unfavorable. Total Labor Variance Labor Price Variance Labor Quantity Variance