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

Raw materials used	12,000 lbs. at $2.50 per lb.
Factory payroll ...	3,500 hours for a total of $45,500

15,000 units were completed during the year

Budgeted standards for each unit produced:

1 lb. of raw material at $2.25 per lb.

15 minutes of direct labor at $12.50 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.