Golden Food Products produces special-formula pet food. The company carries no inventories. The master budget calls for the company to manufacture and sell 126,500 cases at a budgeted price of $60 per case this year. The standard direct cost sheet for one case of pet food follows: Variable overhead is applied based on direct labor-hours. The variable overhead rate is $16 per direct labor-hour. The fixed overhead rate (at the master budget level of activity) is $10 per unit. All nonmanufacturing costs are fixed and are budgeted at $2.2 million for the coming year. At the end of the year, the costs analyst reported that the sales activity variance for the year was $336,000 favorable. The following is the actual income statement (in thousands of dollars) for the year for Golden Food Products: During the year, the company purchased 326,500 pounds of material and employed 34,320 hours of direct labor. Required: a. Compute the direct materials price and efficiency variances. b. Compute the direct labor price and efficiency variances. c. Compute the variable overhead price and efficiency variances. Note: For all requirements, enter your answers in whole dollars. Indicate the effect of each variance by selecting "F" for favorable, or " U " for unfavorable. If there is no effect, do not select either option. \begin{tabular}{|l|l|l|} \hline a. Direct materials: & & \\ \hline Price variance & & \\ \hline Efficiency variance & & \\ \hline b. Direct labor: & & \\ \hline Price variance & & \\ \hline Efficiency variance & & \\ \hline c. Variable overhead: & & \\ \hline Price variance & \\ \hline Efficiency variance & \\ \hline \end{tabular}