The following information describes production activities of the Central Corp.:

Raw Materials Used......16,000 lbs. @ $4.05 per lb

Factory Payroll..............5,545 hours for a total of $72,085

30,000 units were completed during the year

Budgeted standards for each unit produced:

1/2 lb. of raw material at $4.15 per lb.

10 minutes of direct labor at $12.50 per hour.

1) Compute the direct materials price variance

2) Compute the direct materials quantity variance

3) Compute the direct labor rate variance

4) Compute the direct labor efficiency variance

5) Indicate whether each variance is favorable or unfavorable.