Monty Company developed the following standard costs for its product for 2022 : The company expected to work at the 122,000 direct labor hours level of activity and produce 61,000 units of product. Actual results for 2022 were as follows: - 57,800 units of product were actually produced. - Direct labor costs were \$1,101,750 for 113,000 direct labor hours actually worked. - Actual direct materials purchased and used during the year cost $1,128,480 for 235,100 pounds. - Actual direct materials purchased and used during the year cost $1,128,480 for 235,100 pounds. - Total actual manufacturing overhead costs were $681,000. Compute the following variances for Monty Company for 2022 and indicate whether each variance is favorable or unfavorable