ABC Manufacturing's standard cost card for one unit of product includes: Direct materials $50, Direct labor (8 hours at $10 per hour), and Factory overhead (based on direct labor hours, 8 hours per unit). During May, the company produced 8,000 units, and actual costs were: Direct materials $400,000, Direct labor $320,000, and Factory overhead $400,000. Calculate the total variance and break it down into material, labor, and overhead variances.