Livingston Corporation recently implemented a standard cost system. The companys cost accountant has provided the following data to perform a variance analysis for May:

Compute the following variances. Indicate whether each variance is favorable (F) or unfavorable (U):

(a) Materials price variance: $__________

(b) Materials quantity variance: $__________

(c) Labor rate variance: $__________

(d) Labor efficiency variance: $__________

Standard Cost Information Direct Material Standard Price Standard Quantity Allowed Per Unit Direct Labor Standard Rate Standard Hours Allowed Per Unit Fixed Overhead Budgeted Normal Level of Production Variable Overhead Application Rate Fixed Overhead Application Rate S12 per pound 4 pounds per unit S7 per hour 0.5 hours per unit $24,000 per month 12,000 units per month S1.80 per unit ($24,000/12,000 units) Total Overhead Application Rate $2.00 per unit S3.80 per unit Actual Cost Information Cost ofMaterial Purchased & Usecd Pounds of Material Purchased & Used Cost of Direct Labor Hours ofDirect Labor Cost of Variable Overhead Cost of Fixed Overhead Actual Volume of Production S429,000 39,000 pounds $23,100 4,200 hours $17,750 S24,200 10,400 units