Seacoast Company provided the following information about its standard costing system for 2019: Standard Data Actual Data Materials 10 lbs. @ $4 per lbs. 4,000 units Produced Materials purchased Labor 3 hrs. @ $21 per hr. 50,000 lbs. for $215,000 Budgeted production 3,500 units Materials used 41,000 lbs. Labor worded 11,000 hrs. costing $220,000 Calculate the price, quantity and total variances for labor and materials. Format your answers using $, commas, and zero decimal places. Also indicate for each variance "F" for favorable or "U" for unfavorable. Materials Variances Materials Price Variance Materials Quantity Favorable/Unfavorable Variance Favorable/Unfavorable Total Materials Variance Favorable/Unfavorable Labor Variances Labor Price Variance Labor Quantity Favorable/Unfavorable Variance Favorable/Unfavorable Total Labor Variance Favorable/Unfavorable