During June, ABC Company purchased and used 5,000 pounds of materials at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct Labor: $116,745 ($18.10 per hour) Direct Material: $36,500 ($7.30 per pound) The standards for one unit of ABC Companys product are as follows: Direct Labor: 3 hours per unit at $18 per hour Direct Material: 2 pounds per unit at $7.00 per pound Compute the direct-material price and quantity variances and the direct-labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.