Standard Cost Sheet, Product XV-1 "Budgeted fixed factory overhead cost =$120,000 Assume that Schmidt Machinery Company had the standard costs reflected in In a given month, the company used 3,455 pounds of aluminum to manufacture 921 units. The company paid $28.60 per pound doring the month to purchase aluminum. At the beganing of the month, the compary had 51 pounds of aluminum on hand. As the end of the month, the comparyy had only 31 potinds of aluminum in its warehouse Schmidt used 4,250 direct labor hours during the month, at an average cost of $41.60 per hour. Pequired: Compute the following variances for the month: 1. The purchase price vatiance for aluminum. Indicate whether this variance is fovorable or unfavorable. 2 The usage varlance for aluminum. Indicate whether this variance is favorable or unfavorable. 3. The direct labor rate variance indicate whether this vartance is favorable or unfavorable 4. The direct labor efficiency variance Indicate whether this variance is favorable or unfavorable (Do not round intermediate colculations. Round your answers to the nearest whole dollor amount.)