Jorgenson Corporation has developed the following standards for production of its product: The following information is available for the year 2016: Actual production for the period was 1, 900 units. 6, 800 pounds of material were purchased for $1.05 per pound. 6, 200 pounds of material were used in production. 2,000 direct labor hours were incurred and the actual labor rate paid was $7.80 per direct labor hour. The total actual variable overhead costs incurred were $17,000 and the total actual fixed overhead costs incurred were $8, 900. 4,000 machine hours were used. Compute the eight production variances-be sure to label each variance and indicate whether the variance is favorable or unfavorable