23. LO.2 (DM & DL variances) Madzinga's Draperies manufactures curtains. Curtain #4571 requires the following: Direct material standard Direct labor standard 10 square yards at $5 per yard 5 hours at $10 per hour During the second quarter, the company purchased 17,000 square yards at a cost of $83,300 and used 16,500 square yards to produce 1,500 Curtain #4571s. Direct labor totaled 7,600 hours for $79,800. a. Compute the material price and usage variances. c. Compute labor rate and labor efficiency variances