ABC Manufacturing uses standard costing. The standard cost for direct materials is $5 per unit, and the standard quantity is 2 units per finished product. The standard cost for direct labor is $10 per hour, and the standard labor hours are 0.5 hours per finished product. Actual data shows that 1,000 units were produced, 2,200 units of direct materials were used at $4.75 per unit, and 550 hours of direct labor were used at $9.50 per hour.

Tasks:

1. Calculate the direct materials price variance.
2. Calculate the direct materials quantity variance.
3. Calculate the direct labor rate variance.
4. Calculate the direct labor efficiency variance.

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