Sarasota, 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, Sarasota estimated 9,650 tybos would be produced in March. Sarasota 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 9,450 units during the month A total of 24,400 pounds of materials were purchased at a cost of $67,100, A total of 24,400 pounds of materials were used in production 5,340 hours of labor were incurred during the month at a total wage cost of $58,740. 3 Calculate the following variances for March for Sarasota, Inc. Identify whether each variance is favorable or unfavorable. (a) Materials Price Variance $ (6) Materials Quantity Variance $ (c) Labor Price Variance $ d (d) Labor Quantity Variance $