The following information describes actual production activities of the Cheers Corp.:

Raw materials used $q,8,125$ lbs$.$ at $$2\mathrm{.}50$ per ib$.$

Factory payroll $q,2,150$ hours for a total of $$26,875($ $$12\mathrm{.}50$ per hour$)$

$8,000$ units were completed during the year

Budgeted standards for each unit produced:

$1lb.$ of raw material at $$2\mathrm{.}60$ per $lb.$

$15$ minutes $(\mathrm{.}25)$ of direct labor at $$12\mathrm{.}75$ per hour

Compute the direct materials price and quantity and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.