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

Direct materials (6 pounds at $2.50 per pound) $15.00 

Direct labor (3.1 hours at $12.00 per hour) $37.20 

During the month of April, the company manufactures 250 units and incurs the following actual costs.

Direct materials purchased and used (1,600 pounds) $4,192 

Direct labor (760 hours) $8,740 

Instructions 

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