Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards.

Materials
Item	Per unit	Cost
Materials		2 lb.			80.00 per lb.
Direct labor
Item	Per unit	Cost
Labor		15 min.			$9.00 per hr.
Predetermined overhead rate based on direct labor hours = $3.84

The January figures for purchasing, production, and labor are:

The company purchased 221,800 pounds of raw materials in January at a cost of 78 a pound.

Production used 221,800 pounds of raw materials to make 112,000 units in January.

Direct labor spent 18 minutes on each product at a cost of $8.80 per hour.

Overhead costs for January totaled $37,559 variable and $75,000 fixed.

Answer the following questions about standard costs.

What is the materials price variance?

Materials price variance

$4436

Favorable

What is the materials quantity variance?

Materials quantity variance

???

???

Total materials variance ?

Labor price variance?

Labor quantity variance?

Total labor variance?