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Concord, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Concord estimated 9,680 tybos would be produced in March. Concord has established the following material and labor standards to produce one tybo: Standard Quantity Standard Price Direct materials 2.5 pounds $3 per pound Direct labor 0.6 hours $10 per hour During March 2022, the following activity was recorded by the company relating to the production of tybos: 1. The company produced 9,510 units during the month. 2. A total of 24,520 pounds of materials were purchased at a cost of $67,430. 3. A total of 24,520 pounds of materials were used in production. 4. 5,420 hours of labor were incurred during the month at a total wage cost of $59,620. Calculate the following variances for March for Concord, Inc. Identify whether each variance is favorable or unfavorable. (a) Materials Price Variance $ (b) Materials Quantity Variance $ (c) Labor Price Variance $ (d) Labor Quantity Variance $