La clalor Standard Costing Botella Company produces plastic bottles. The unit for costing purposes is a case of 18 bottles. The following standards for producing one case of bottles have been established: Direct materials (4 lbs. $0.95) $ 3.80 Direct labor (1.25 hours $15.00) 18.75 Standard prime cost 22.55 During December, 78,000 pounds of material were purchased and used in production. There were 15,000 cases produced, with the following actual prime costs Direct materials $ 74,000 $315,000 (for 22,500 hrs.) Direct labor Required: 1. Compute the materiais variances. If there is no variance, enter "o" in the amount box and select "No variance from the dropdown menu. Materials price variance Favorable Materials usage variance Unfavorable Overall materials variance Unfavorable 2. Compute the labor variances. If there is no variance, enter "o" in the amount box and select "No variance from the dropdown menu. Labor rate variance Favorable Direct materials (4 lbs. $0.95) $ 3.80 Direct labor (1.25 hours $15.00) 18.75 Standard prime cost 22.55 During December, 78,000 pounds of material were purchased and used in production. There were 15,000 cases produced, with the following actual prime costs: Direct materials $ 74,000 Direct labor $315,000 (for 22,500 hrs.) Required: 1. Compute the materials variances. If there is no variance, enter"0" in the amount box and select "No variance from the dropdown menu. Materials price variance Favorable Materials usage variance Unfavorable Overall materiais variance Unfavorable 2. Compute the labor variances. If there is no variance, enter "O" in the amount box and select "No variance" from the dropdown menu. Labor rate variance Favorable Labor efficiency variance Unfavorable Overall labor variance Unfavorable