Jake Company produces Basketballs. The standard cost for each Basketball is: Direct material, 4 ft @ $6.00/ft = $24.00 Direct labor, 4 hours at $15.00/hr = $60.00 During December 4,000 basketballs were produced. 19,600 ft of leather were purchased at $5.85/ft and 18,600 ft were used in production. Direct labor costs incurred were $270,000 for 20,000 hours. a)What is the direct material price variance b) What is the material usage variance? c) What is the Labor rate variance? d) What is the labor efficiency variance? Be sure to indicate if FAVORABLE or UNFAVORABLE. That is crucial