Pronghorn, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Pronghorn estimated 9,630 tybos would be produced in March. Pronghorn has established the following material and labor standards to produce one tybo: Direct materials Direct labor Standard Quantity Standard Price 2.5 pounds $3 per pound 0.6 hours $10 per hour During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. 2. The company produced 9,410 units during the month. A total of 24,340 pounds of materials were purchased at a cost of $66,935. A total of 24,340 pounds of materials were used in production. 5,320 hours of labor were incurred during the month at a total wage cost of $58,520. . 3. 4. Calculate the following variances for March for Pronghorn, Inc. Identify whether each variance is favorable or unfavorable. (a) Materials Price Variance $ (b) Materials Quantity Variance $ $ (c) Labor Price Variance $ (d) ) Labor Quantity Variance $