Marigold Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound) Direct labor (2 hours at $12 per hour) $12 $24 During the month of April, the company manufactures 380 units and incurs the following actual costs. Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable. Materials Labor Direct materials purchased and used (2.410 pounds) $5,302 Direct labor (780 hours) $8,970 Total Variance Price S Variance Quantity Variance $ S > > S $ S