F Company has a standard costing system. The companys main product is copper wind chimes, which are made in a single department. The standard variable costs for one wind chime (unit) are as follows: Direct Materials (3 yards @ $12.50 per yard) $37.50 Direct Labor (2 hours @ $9.00 per hour) $18.00 Variable Overhead (2 hours @ $5.00 per direct labor hour) $10.00 Standard Variable Cost Per Unit $65.50 The companys normal capacity is 10,000 direct labor hours. Its budgeted fixed overhead costs for the year were $44,000. During the year, it produced at sold 4,900 wind chimes and it purchased 15,000 yards of direct materials; the purchase cost was $12.40 per yard. The average labor rate was $9.10 per hour, and 10,050 direct labor hours were worked. The companys actual variable overhead costs for the year were $48,900 and its fixed costs were $45,000. Using the data given, compute the following variances and indicate whether each is favorable or unfavorable: a. Direct Materials Price Variance b. Direct Materials Quantity Variance c. Total Direct Materials Cost Variance d. Direct Labor Rate Variance e. Direct Labor Efficiency Variance f. Total Direct Labor Cost Variance g. Total Manufacturing Overhead Variance