Pronghorn Company has developed the following standard costs for its product for 2022: PRONGHORNCOMPANY Standard Cost Card Product A Cost Component Standard Quantity Standard Price = Standard Cost Direct materials 4 pounds $3 $12 Direct labor 3 hours 8 24 Manufacturing overhead 3 hours 4 12 $48 The company expected to produce 31,300 units of Product A in 2022 using 93,900 direct labor hours. Actual results for 2022 are as follows: 32,310 units of Product A were produced. Actual direct labor costs were $778,180 for 94,900 direct labor hours worked. Actual direct materials purchased and used during the year cost $364,375 for 132,500 pounds. Actual variable overhead incurred was $163,000 and actual fixed overhead incurred was $212,000. Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable.Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable. (a) Materials Quantity Variance $ (b) Total Direct Labor Variance $ v (c) Direct Labor Quantity Variance $ v (d) Direct Materials Price Variance $ (e) Total Overhead Variance $ v