During January, Monty Co. incurs 1,950 hours of direct labor at an hourly cost of $11.80 to produce 1.070 units of its finished product. Monty's standard labor cost per unit of output is $22 ( 2 hours $11.00 ). Compute the total, price, and quantitylabor variances for Monty Co. for January, Identify whether each variance is favorable or unfavorable