At the beginning of the year, Shultz Company had the following standard cost sheet for one of its plastic products: The actual results for the year are as follows: Units produced: 350,000. Materials purchased: 1, 860,000 pounds @ $5.10. Materials used: 1, 850,000 pounds. Direct labor: 725,000 hours @ $11.85. Required: Compute price and usage variances for materials. Compute the labor rate and labor efficiency variances