Sarasota Company developed the following standard costs for its product for 2022: SARASOTACOMPANY Standard Cost Cost Components Standard Quantity Standard Price = Standard Cost Direct materials 4 pounds $5 $20 Direct labor 2 hours 10 20 Variable overhead 2 hours 4 8 Fixed overhead 2 hours 2 4 $52 The company expected to work at the 123,000 direct labor hours level of activity and produce 61,500 units of Actual results for 2022 were as follows: 58,300 units of product were actually produced. Direct labor costs were $1,106,625 for 113,500 direct labor hours actually worked. Actual direct materials purchased and used during the year cost $1,138,320 for 237,150 pounds. Total actual manufacturing overhead costs were $681,500. . Total actual manufacturing overhead costs were $681,500. Compute the following variances for Sarasota Company for 2022 and indicate whether each variance is favorable or unfavorable. 1. Direct Materials Price Variance $ Favorable 2. Direct Materials Quantity Variance $ 19750 Unfavorable 3. Direct Labor Price Variance $ 4. Direct Labor Quantity Variance $ Favorable Favorable 5. Overhead Controllable Variance $ Favorable 6. Overhead Volume Variance $ Unfavorable