Coca-Cola Company set the following standards for its beverage production:

| Direct Materials | Quantity: 2 liters per unit | Price: $1 per liter | | Direct Labor | 0.5 hours per unit | Rate: $20 per hour | | Variable Overhead| $0.50 per unit | | Fixed Overhead | $1 billion per month |

During the month, 50 million units were produced, and actual costs were as follows:

Actual Costs	Amount ($)
Direct Materials	90 million
Direct Labor	20 million
Variable Overhead	25 million
Fixed Overhead	1.1 billion

Required:

• Calculate the direct materials price variance and quantity variance.
• Determine the direct labor rate variance and efficiency variance.
• Analyze the variable overhead spending variance.