Standard Quantity Standard Price Direct materials 2.5 pounds $3 per pound Direct labor 0.6 hours $10 per hour During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. The company produced 9,150 units during the month. 2. A total of 24,180 pounds of materials were purchased at a cost of $66,495. 3. A total of 24,180 pounds of materials were used in production. 4. 5,140 hours of labor were incurred during the month at a total wage cost of $56,540. Calculate the following variances for March for Cheyenne, Inc. Identify whether each variance is favorable or unfavorable.