please answer 3 and 4 and show work please

Harry's Holiday House makes various holiday decorations. During the last quarter the company's profit margin was not as high as it budgeted for the number of units sold in the stockings department. Since the price per stocking has remained the same, Harry suspects the issue has to do with cost overruns but has been unable to identify the exact issue. Harry provides the following information about his company's production standards and actual performance for the quarter: B D 1 2 Standard Quanity $4.00 $1.50 $1.00 Standard Price or Rate $0.65 $15.75 $4.50 Direct Materials (sq feet) Direct labor (hours) Vanable Manufacturing Overhead Total Standard cost per unit "based on labor hours 3 Standard Cost $2.60 $23.63 $4.50 $30.73 4 5 6 7 8 9 10 Stockings produced this quarter Square feet of material purchased Price per square foot purchased Square feet used in prodcution Total Labor Hours Worked Average rate per labor hour 11 12,000 55,000 $0.70 49,000 17,600 $16.50 12 13 T4 15 16 1. What is thematerials price variance? Favorable or Unfavorable? 2. What is the material quanity variance? Favorable or Unfavorable? 17 18 19 20 3. What is the labor rate variance? Favorable or Unfavorable? 4. What is the labor efficiency? Favorable or Unfavorable? 21 22 23