Novak Manutacturng, which produces a sngle product, has prepared the following standard cost sheet for one unit of the product. Direct materials ( 6 pounds at $2 per pound) $12 Direct labor ( 2 hours at $12 per hour) $24 During the month of April, the company manufactures 410 units and incurs the following actual costs. Direct materials purchased and used (2,620 pounds) $5,764 Direct labor (830 hours) \$9,545 Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable