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 11 lbs. 8 lbs. $5.00 Sugar 9 lbs. 13 lbs. 0.60 Standard labor time 0.3 hr. 0.4 hr. Planned production Dark Chocolate Light Chocolate 3,900 cases 13,300 cases $13.50 per hr. Standard labor rate $13.50 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) 3,700 13,800 Actual Price per Pound Actual Pounds Purchased and Used Cocoa Sugar $5.10 151,900 0.55 207,400 Actual Labor Rate Actual Labor Hours Used Dark chocolate Light chocolate $13.10 per hr. 1,010 13.90 per hr. 5,660 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 $ Unfavorable Direct materials quantity variance $ x Unfavorable Total direct materials cost variance Unfavorable b. Direct labor rate variance Direct labor time variance Total direct labor cost variance $ Unfavorable Unfavorable Unfavorable