The company January 2015 budget was based on normal volume. During January, the company produced 7,800 units
with records indicating the data following: Actual: Direct materials purchased 25,000 lbs @ $3.60. Direct materials used 23,100 lbs Direct labor 40,100 hours @ $6.30 (excluding overhead)
Standards: Direct materials (2 pounds @ $3.50 per pound)= $7.00 ; Direct Labor (4 hours @ $6.50 per hour)= $26.00 ;STANDARD COST PER UNIT $33.00
What is the direct materials price variance(based on materials used), direct materials usage variance , direct labor variance and direct labor efficiency variance?