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 Light Standard Price per Chocolate Chocolate Pound Cocoa 12 lb 9 lb, $4.3 Sugar 10 lb. 14 lb. 0.6 Standard labor 0.4 hr. 0.5 hr. time Dark Chocolate Light Chocolate Planned production 3,800 cases 13,000 cases Standard labor rate $13 per hr. $13 per hr. I Love My Chocolate 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 tu the following actual results: Dark Chocolate Light Chocolate Actual production 3,600 13,500 (cases) Actual Price per Actual Pounds Purchased and Pound Used Cocoa $4.4 165,500 Actual Price per Actual Pounds Purchased and Pound Used Cocoa $4,4 165,500 Sugar 0.55 219,400 Actual Labor Rate Actual Labor Hours Used Dark chocolate $12.6 per hr 1,310 Light chocolate 13.4 per hr 6,920 Required: Prepare the following variance analyses for both chocolates and 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. If there is no vanance, enter a zero Direct materials price variance 5,580 Unfavorable Direct materials quantity variance 12,110 Unfavorable Total direct materials cost variance Unfavorable b. Direct labor rate variance Direct labor time variance Total direct labor cost variance Unfavorable Unfavorable Unfavorable