I don't know if the favorable and unfavorable parts are right so if you will check them for me too. Thank you!

I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 9 lbs. 6 lbs. $4.90 Sugar 7 lbs. 11 lbs. 0.60 Standard labor time 0.4 hr. 0.5 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases 11,800 cases Standard labor rate $16.50 per hr. $16.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Light Chocolate Actual production (cases) 4,500 12,300 Actual Price per Pound Actual Pounds Purchased and Used Cocoa $5.00 114,900 Sugar 0.55 162,600 Actual Labor Rate Actual Labor Hours Used Dark chocolate $16.20 per hr. 1,640 Light chocolate 16.80 per hr. 6,300 Required: 1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price variance, direct materials quantity variance, and total variance. b. Direct labor rate variance, direct labor time variance, and total variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ 3,360 Unfavorable Direct materials quantity variance Unfavorable Total direct materials cost variance $ Unfavorable b. Direct labor rate variance Unfavorable Direct labor time variance Favorable Total direct labor cost variance Unfavorable 2. The variance analyses should be based on the standard amounts at actual volumes. The budget must flex with the volume changes. If the actual volume is different from the planned volume, as it was in this case, then the budget used for performance evaluation should reflect the change in direct materials and direct labor that will be required for the actual production. In this way, spending from volume changes can be separated from efficiency and price variances