Whakatane Ltd manufactures ceramic mosaic ornaments, all of the same size. Each unit requires the same amount of resources. The following information| is from the static budget for 2015: Standard quantities, standard prices and standard unit costs follow for direct materials and direct manufacturing labour: During 2015, actual number of units produced and sold was 52 500. Actual cost of direct materials used was $295 200, based on 82 000 kg purchased at $3.60 per kilogram. Direct manufacturing labour-hours actually used were 25 000, at the rate of $22 per hour. As a result, actual direct manufacturing labour costs were $550 000. Actual fixed costs were $110 000. Required: Calculate the price and efficiency variances for direct materials and for direct manufacturing labour. Indicate whether each variance is favourable (F) or unfavourable (U)