ZCO, Inc. makes a product with the following standard costs: Inputs: Unit of Input Units per item Price or rate Direct Materials: square feet 146 $23/square foot Direct Labor: direct labor hours 39 $26/direct labor hour Variable Overhead: direct labor hours $34/direct labor hour The company reported the following results concerning this product in August. Actual output: 151 items Raw Materials used: 22,489 square feet Raw Material purchased: 25,435 square feet Actual direct labor hours: 6,493 hours Actual cost of raw materials purchased: $610,440 Actual direct labor cost: $155,832 Actual variable overhead cost: $214,269 ZCO applies variable overhead on the basis of direct labor hours. The direct material purchases variance is computed when the materials are purchased. What are the following variances? Be sure to note if they are favorable or unfavorable. Part 1: Direct Material quantity variance: Answer 1 Question 21 Part 2: Direct Labor efficiency variance: $Answer 2 Question 21 Answer 3 Question 21 Part 3: Direct Labor rate variance: Answer 4 Question 21 Part 4: Direct Material price variance: $Answer 5 Question 21 Answer 6 Question 21