SCHMIDT MACHINERY COMPANYStandard Cost SheetProduct: XV$-1$DescriptionsQuantityCost RateSubtotalTotalDirect materials: Aluminum$4$pounds$ $25$per pound$ $100$ PVC$1$pound$40$per pound$40$ Direct labor$5$hours$40$per hour$200$ Variable factory overhead$5$hours$12$per hour$60$ Total variable manufacturing cost $ $400$Fixed factory overhead$*5$hours$24$per hour$120120$Standard manufacturing cost per unit $ $520$Standard variable selling and administrative cost per unit $ $50$ Compute the following variances for the month

$1.$ The purchase price variance for aluminum. Indicate whether this variance is favorable or unfavorable.

$2.$ The usage variance for aluminum. Indicate whether this variance is favorable or unfavorable.

$3.$ The direct labor rate variance. Indicate whether this variance is favorable or unfavorable.

$4.$ The direct labor efficiency variance. Indicate whether this variance is favorable or unfavorable. $($Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.$)$