33.Harrisburg Company has set the following standards for one unit of its product:
Direct Material $36 per unit
Quantity = 4 pounds per unit
Price = $9 per pound
Direct Labor $63 per unit
Hours = 3 hours per unit
Rate = $21 per hour
Actual costs incurred in the production of 2,000 units were as follows:
Direct Material: $72,540 ($9.30 per pound)
Direct Labor: $120,840 ($21.20 per hour)
All materials purchased were used during the period.
REQUIRED: Compute the direct material price and quantity variances and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Use computations or goalpost format to show variances.