V. (15 points)-SHOW AND LABELALL.CALCULATIoss mpany has developed the following standard costs for its product for 2017 Standard Cost Card Product A 512 36 Direct materials Direct labor Manufacturing overhead $3 12 4 pounds 3 hours 3hours 560 The company expected to produce 25,000 units of Product A in 2017 and work 75,000 direct labor hours Actual results for 2017 are as follows: 26,000 units of Product A were produced Actual direct materials purchased and used during the year cost $304,500 for 105,000 pounds. Actual direct labor costs were $976,000 for 80,000 direct labor hours worked. Actual variable overhead incurred was $130,000 and actual fixed overhead incurred was $170,000 . Instructions- Show and label calculations. Compute the following variances, indicating whether the variances are favorable or unfavorable. (a) Direct materials quantity variance, Direct materials price variance and Total Materials variance (b) Direct labor quantity variance, Direct labor cost variance and Total labor variance. (c) Total overhead variance