Kayjay Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Direct materials (8 pounds at \($2.50\) per pound) \($20.00\) Direct labor (3 hours at \($12.00\) per hour) \($36.00\) During the month of April, the company manufactures 250 units and incurs the following actual costs.

Direct materials (1.900 pounds —purchased and used) v ~035 Direct labor (700 hours)

Instructions

Compute the total, price, and quantity variances for materials and labor.