Gulf Production manufactures recycle bins using recycled plastic that it sells to municipal governments. It has developed the following per unit standard costs for 2014 for each bine:

Direct Materials Direct Labor Manufacturing Overhead Standard quantity 3 pounds hour hour Standard price $0.80 $12.00 $4.50 Unit standard cost $2.40 $6.00 $2.25 In 2014, the company planned to produce 40,000 bins at a level of 20,000 hours of direct labor. Actual results for 2014 are presented below: 1. Direct materials purchased and used were 116,000 pounds of plastic that cost $98,600. 2. Direct labor costs were $258,300 for 21,000 direct labor hours actually worked. 3. Total manufacturing overhead was $88,000. 4. Actual production was 40,200 bins. Instructions Compute the following variances: (Be sure to indicate if it is favorable or unfavorable) 1. Direct materials price 2. Direct materials quantity 3. Direct labor price 4. Direct labor quantity