Sheifield, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for 58 . At the start of monthly production, Sheffield estimated 9,660 tybos would be produced in March. Sheffeld has established the following material and labor standards to produce one tybo: During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. The company produced 9,470 units during the month. 2. A total of 24,420 pounds of materials were purchased at a cost of $67,155. 3. A total of 24,420 pounds of materials wereused in production. 4. 5,400 hours of labor were incurred during the month at a total wage cost of $59,400. Calculate the following variances for March for Sheffeld, inc identify whether each variance is favorable or unfavorable