Chimichanga Corporation manufactures a single product. The standard cost per unit of product is hown below: Direct materials - 1 pound of flour at $3 per pound $ 3.00 Direct Labor - 1.5 hours at $12 per hour 18 Variable manufacturing overhead 11.25 Fixed manufacturing overhead 3.75 Fixed overhead 19680 Total manufacturing costs 200580 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Compute the price and quantity variances for both Direct Materials and Direct Labor. Indicate, for each variance, whether it is favorable or unfavorable.