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: $ Direct materials Direct labor Variable MOH Fixed MOH (40,000 feet @ $14.00 per foot) (60,000 DL Hrs @ $10.00 per DLH) (60,000 DL Hrs @ $8.00 per DLH) 560,000 600,000 480,000 720,000 2,360,000 $ The following actual information is available for the production of product A for the period: Units produced 9,500 Direct material purchased 44,000 ft @ $13.80 per ft Direct materials used 39,500 ft Direct labor 56,000 hrs costing $560,000 Variable MOH incurred $ 476,000 Fixed MOH incurred $ 720,000 Calculate the dollar amount and label as favorable or unfavorable the following variances: Direct materials price variance (4 pts) Direct materials quantity variance (4 pts) Direct labor efficiency variance (4 pts) Variable MOH rate variance (4 pts)