Standard production and cost data for Product X, follow. XYZ purchased and used 87,140 pounds of material at an average cost of $1.85 per pound. Labor usage amounted to 59,880 hours at an average of $8.38 per hour. Actual production amounted to 27,600 units. Actual fixed overhead costs amounted to $643,600. The company completed and sold all inventory for $1,930.000. Required: a. Calculate the materials once and usage variances. b.Calculate the fixed cost spending and volume variances. YOU MUST SNOW YOUR WORK TO MIN CREDIT! BE SURE TO INDICATE FAVORABLE OR UNFAVORABLE FOR ALL VARIANCES