Riggins, 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, riggins estimated 9,500 tybos would be produced in march. riggins 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 2019, the following activity was recorded by the company relating to the production of tybos:
1. the company produced 9,000 units during the month.
2. a total of 24,000 pounds of materials were purchased at a cost of $66,000.
3. a total of 24,000 pounds of materials were used in production.
4. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000.
required :
a) calculate the following variances for march for riggins, inc.
i. materials price variance
ii. materials quantity variance
iii. labor price variance
iv. labor quantity variance
b) identify whether the variance is favorable or unfavorable.

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"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n.v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100