ACTUAL for the current year:

Purchase of raw materials (8,000 sq ft at $13.50)		$108,000
Raw materials used		7,700 yards
Direct Labor costs (19,200 at $25.00) Actual variable overhead cost $366,300		$480,000
Units produced		6750 units
Standards per unit of product:
Raw materials	1.2 yards at $13.00/sq ft
Direct labor variable overhead 18.50 per direct labor hour	2.8 hours at $25.10/hr

Compute the following variances:

material variance (price and quantity)

labor variance (rate and efficiency)