at the beginning of the year, Craige company had the following standard cost sheet for one of its plastic products:

direct material (5 lbs @ 4.00) 20.00

Direct labor ( 2 hrs. @ 15.00) 30.00

Standard prime cost per unit: 50.00

the actual results for the year are as follows:

a. units produced: 410,000

b. materials purchased: 2,075,000 lbs @ 3.95

c. materials used: 2,100,000 pounds

d. direct labor: 825,000 hours @ 14.85

1. compute price and usage variances for material

2. compute the labor rate and labor efficiency variances, using both the formula and columnar approaches.