Problem 15-3 (Part Level Submission) Indigo Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,500 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 15,500 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) 7 yards at $4.20 per yard 1.10 hours at $13.00 per hour 1.10 hours at $6.50 per hour (fixed $3.60; variable $2.90) Actual $300,915 for 74,300 yards ($4.05 per yard) $164,255 for 12,350 hours ($13.30 per hour) $48,500 fixed overhead $37,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $55,800, and budgeted variable overhead was $44,950. (a) Your answer is partially correct. Try again. Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round answers to 0 decimal places, e.g. 125.) (1) Total materials variance Favorable X Materials price variance Favorable Materials quantity variance Unfavorable X (2) Total labor variance Unfavorable Labor price variance Unfavorable Labor quantity variance Unfavorable