Marigold Manufacturing, which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $2 per pound ) $12
Direct labour (2hours at $12 per hour) $24
During the month of April, the company manufactures 380 units and incurs the following actual costs. Direct materials purchased and used (2,410 pounds) $5,302
Direct labour (780 hours) $8,970
Compute the total, price, and quantity variances for materials and labor. Identify whether each variance is favorable or unfavorable.