Materials and Labor Variances Deporte Company produces single-colored tshits. Materials for the shirts are dyed in large vats. After dying the materials for a given color, the vats must be cleaned and prepared for the next batch of materials to be colored. The following standards for changeover for a given batch have been established Direct material (2.4 lbs. 3095) $2.28 Direct labor(0.75 h $7.40) 5.55 Standard prime cost $7.83 During the year, 79,500 pounds of material were purchased and used for the changeover activity. There were 30,000 batches produced, with the following actual prime costs Direct materials $66,780 $184,625 (for 22,450 hrs.) Direct labor Required: Compute the materials and labor variances associated with the changeover activity, labeling each variance as favorable or unfavorable. Material Variances Price variance Usage variance Labor Variances Rate variance Emcency variance