Mill Manufacturing has the following data for the month of March:

Standard Material per Unit 4 pounds

Standard Materials Cost per Pound $3.25/pound

Standard Labor Hours/Unit 4.0 Hours

Standard Labor Rate/Hour $24.00

Actual Material per Unit 3.9 pounds

Actual Materials Cost per Pound $3.40/pound

Actual Labor Hours/Unit 3.9 Hours

Actual Labor Rate/Hour $23.25

Actual production 1,800 units

Required:

Calculate Material Price Variance (be sure to state favorable vs. unfavorable)

Calculate Material Usage/Quantity variance

Calculate Labor Price Variance

Calculate Labor Usage/Quantity variance