The following standard costs were developed for Product A at Larry Corporation. Budgeted production for the year is 10,000 units, and overhead is applied on the basis of direct labor hours.

The master budget is as follows:

Product A budget data
Direct materials	(40,000 feet $14.00 per foot)	$560,000
Direct labor (DL)	(60,000 DL hours $10.00 per hour)	$600,000
Variable overhead	(60,000 DL hours $8.00 per hour)	$480,000
Fixed overhead		$720,000
Total budgeted cost		$2,360,000

The following actual information is available for the production of Product A for the period:

Product A production data
Units produced:	9,500
Materials purchased:	39,500 feet @ $13.80 per foot
Materials used:	39,500 feet
Direct labor:	56,000 hours, costing $560,000
Variable overhead incurred:	$470,000
Fixed overhead incurred:	$720,000

Required:

Calculate the dollar amount and label the following variances as "favorable" or "unfavorable":

Direct materials price variance

Direct materials quantity variance

Direct labor efficiency variance