Aday's Pie Factory has set standard for production of 130,000 pies as follows:

Standard Quantity	36,000	lbs
Standard Price (ingredients)	$1.40	per lb
Standard Labor Hours	15,000
Standard Labor Rate	$4.45
Standard Overhead Rate	$2.50	per hour

During the last period, Aday's produced 96,000 pies and the following usage information.

Actual Quantity Used	36,000	lbs
Actual Cost (ingredients)	$57,600
Actual Labor Hours	14,000	hours
Actual Payroll	$79,800
Actual Overhead Costs	$30,000

Use the information above, to calculate the following:

a) What is the conversion factor?

b) What is the Quantity Variance?

c) What is the Price Variance?