Honest Joe, Corp. has set the following standards for direct materials (DM) costs per unit for the good it manufactures:

Standard Quantity: 2.2 grams per unit

Standard Price:$7.25 per gram

During the month of August, the firm incurred the following actual DM costs to produce 17,300 units:

Actual Total Quantity: 37,195 total grams

Actual Total DM Cost:$270,452

a.Calculate the DM cost variance.Indicate whether this variance is favorable (F) or unfavorable (U).

b.Calculate the DM price variance.Indicate whether this variance is favorable (F) or unfavorable (U).

c.Calculate the DM quantity variance.Indicate whether this variance is favorable (F) or unfavorable (U).