Sorex Inc manufacture one product caled tybes. The company uses a standard cost item and sex each tybe for $8 At the start of monthly production Blue Sprucinated 9.520 nybon would be produced in March Blue Spruce has established the wing and labor standards to produce one tybo Standard Quantity Standard Price D 25 pounds $30 per hour During March 2002 the folowing activity was recorded by the company rating to the production of yo L The company produced units during the mine 2 Aboul of 24.120 pounds of materials were purchased of $65.124 1 A24120 pounds of materials were used in production 5110 hour of labor was named during the that a wage cost of 556210 Merch for a Serve Inc defy whether ch IN Mrs Price Varana Labor Pro Virtan Labor Quarty Blue Spruce, 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, Blue Spruce estimated 9,520 tybos would be produced in March. Blue Spruce has established the following material and labor standards to produce one tybo: Standard Quantity Standard Price Direct materials 2.5 pounds $3 per pound 0.6 hours $10 per hour Direct labor During March 2022, the following activity was recorded by the company relating to the production of tybos: 1 The company produced 9,050 units during the month. 2 A total of 24.120 pounds of materials were purchased at a cost of $65,124. 3. A total of 24.120 pounds of materials were used in production 4. 5.110 hours of labor were incurred during the month at a total wage cost of $56,210. Calculate the following variances for March for Blue Spruce, Inc. Identify whether each variance is favorable or unfavorable (a) Materials Price Variance $ Calculate the following variances for March for Blue Spruce, Inc. Identify whether each variance is favorable or unfavorable. (a) Materials Price Variance A $ (b) Materials Quantity Variance $ (c) Labor Price Variance (d) Labor Quantity Variance 69 5 $ < < < >