Prime costs for Teagan's Toys to produce ping pong nets for table tops are: Actual materials purchases 320,000 pounds for $1,241,600 Actual cost (to produce 38.000 units): Direct materials 285,000 pounds Direct labor 84% of $180,000 labor costs 100,000 direct labor hours Standard cost (to produce 1 unit): Direct materials 8.5 pounds @ $3.60/pound Direct labor 25 hour @ $16/hour REQUIREMENTS Compute the following variances and indicate favorable or unfavorable. a. Direct Material Price Variance b. Direct Material Quantity Variance c. Direct Material Variance d. Direct Labor Rate Variance e. Direct Labor Efficiency Variance f. Direct Labor Variance IIIII DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual ' Actual Standard Standard Standard Quantity X Price Quantity X Price Quantity X Price Direct-material price variance C C. Direct Material Variance Direct-material quantity variance DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST STANDARD LABOR COST Actual "Actual Standard Standard Standard Hours X Price Hours x Hours X Price *L Actual Price Direct-labor rate variance Direct-labor efficiency variance Direct-labor variance