The following standard cost card is provided for Nebraska Company's Product A: Direct material (2 lbs. @ $5.00 per lb.) Direct labor (1 hr @ $8.00 per hr.) $ 10.00 8.00 During the period, the company produced and sold 5,800 units at the following costs: Direct material 12,200 pounds @ $4.80 per pound Direct labor 5,950 hours @ $8.00 per hour In total, what is the direct material price variance, the direct material quantity variance, and the overall direct material variance. Show your work and make sure you indicate whether the variances are favorable or unfavorable.