I am not sure how to figure out if the variances are favorable or unfavorable.

Milestone One - Variable and Fixed Costs Collars Item Variable Cost/Item Item Fixed Costs High-tensile strength nylon webbing 4.00 Collar maker's salary (monthly) 2,773.33 Polyesterylon ribbons 3.00 Depreciation on sewing machines 55.00 1 Buckles made of cast hardware 2.00 Rent 250.00 2 Price tags 0.10 Utilities and insurance 200.00 Scissors, thread, and cording 400.00 Loan payment 183.33 Salary to self 166.67 6 9 Total Variable Costs per Collar $ 9.10 Total Fixed Costs S 4,028.34Milestone Two - Contribution Margin Analysis COLLARS LEASHES HARNESSES Sales Price per Unit S 24.00 S 30.00 S 35.00 Variable Cost per Unit 9.10 12.10 14.60 1 Contribution Margin S 14.90 S 17.90 20.40 2Milestone Two - Break-Even Analysis COLLARS Sales Price 5 24.00 Fixed Costs 5 4,023 Contribution Margin 5 14.90 BreakEven Units (round up] 270.36 Rounded to 270 Target Prot 5 300.00 BreakEven Units (round up] 290.49 Rounded to 290 Target Prot 5 500.00 BreakEven Units (round up] 303.92 Rounded to 304 LEASHES 5 30.00 5 4,023 5 17.90 225.03 Rounded to 225 5 400.00 247.37 Rounded to 247 5 500.00 253.55 Rounded to 259 HARNESSES 5 35.00 5 4,202 5 20.40 205.95 Rounded to 206 5 500.00 230.47 Rounded to 230 5 650.00 237.33 Rounded to 233 A A 1 2 Milestone Three - Statement of Cost of Goods Sold 3 4 6 Beginning Work in Process Inventory 2" Direct Materials: 3 Materials: Beginning 9 Add: Purchases for month ofJanuarv 5 11 Materials available for use 12 Deduct: Ending materials 14 Materials Used 15 15 Direct Labor 1? Overhead 19 Total Costs 20 21 Deduct: Ending Work in Process Inventory 22 23 Cost of Goods Sold 24 26 20,000 20,000 4,000 1 6,000 3,493 3,? 55 23,253 23,253.33 Data for Variance Analysis: Budgeted Budgeted Actual Actual (Standard) (Standard) Hours/Qty Rate Hours/Qty Rate Labor 160 16.00 180 16.50 Materials 600 9.10 660 $ 10.00 Variances for Collar Sales Favorable/ Variance Unfavorable Direct Labor Time Variance 8 (Actual Hours - Standard Hours) x Standard Rate S 320.00 Unfavorable Direct Labor Rate Variance (Actual Rate - Standard Rate) x Actual Hours S 90.00 Unfavorable Direct Materials Quantity/Efficiency Variance (Actual Quantity - Standard Quantity) x Standard Price S 546.00 Unfavorable Direct Materials Price Variance (Actual Price - Standard Price) x Actual Quantity 5 594.00 Unfavorable'|1\"'lml'\"|'\"l'\"|M|"'||\"||\"'|'|\"'|"'|\""|\"|"'||"|"|'l"|""|" "I" If Milestone Three - Income Statement Revenue: Collars Leashes Ha messes Total Revenue: Cost of goods sold Gross prot Expenses: General and administrative salaries Depreciation Rent Utilities and insurance Scissors, thread, and cording Loan Total Expenses Net Income;' Loss 5 5,715.00 5 4,266.6? $24 collar \" 23 units " 20 days 530 leash * 18 units \" 20 days 535 harness " 20 units " 20 days .33 rounded to the nearest dollar $1950+ 5500