A fashion designer created a new design for a gown. The estimated stanard direct materials are 8 yards at a standard cost of $36/ yard. The actual result for 500 gowns was a total of 4,125 yards at a cost of $34.75/ yard. Calculate the direct materials cost variance and the direct materials quantity variance. Enter favorable variances as negative numbers. DM Price Variance Actual Price Standard Price = Price Variance x Actual Quantity DM Price Variance DM Quantity Variance Actual Quantity Standard Quantity = Qty Variance x Standard Price DM Quantity Variance Total DM Variance The factory determined the standard hours of 0.75hr of labor per unit at a standard cost of $12.50/hr. The actual result for 4,000 units was a total of 3,800 hours at a cost of $12.75/hr. Calculate the direct labor cost variance and the direct labor efficiency variance. Enter favorable variances as negative numbers. DL Rate Variance Actual Rate Standard Rate = Rate Variance x Actual Quantity DL Rate Variance DL Time Variance Actual Time Standard Time = Time Variance x Standard Rate DL Time Variance Total DL Variance