Winners Trophy Company produces trophies. The companys direct materials standards for its deluxe trophy include 1 pound of metal and 10 ounces of wood for the base. Standard prices for the year were $3 per pound of metal and $0.45 per ounce of wood. Direct labor standards for the deluxe trophy specify 0.2 hour of direct labor in the Molding Department and 0.4 hour in the Trimming/Finishing Department. Standard direct labor rates are

$20 per hour in the Molding Department and $18 per hour in the Trimming/Finishing Department. During January, the company made 16,400 deluxe trophies. Actual production data follow.

Direct materials:

Metal 16,640 pounds @ $2.95 per pound Wood 164,400 ounces @ $0.48 per ounce

Direct labor:

Molding 3,400 hours @ $19.80 per hour Trimming/Finishing 6,540 hours @ $18.10 per

1. Compute the direct materials price and quantity variances for metal and wood. Determine them as "favorable" or "unfavorable".
2. Compute the direct labor rate and efficiency variances for the Molding and Trimming/ Finishing Departments. Determine them as "favorable" or "unfavorable".