Creative Productions manufactured and sold 800 products at $10000 each during the past year. At the beginning of the year, production had benn set at 1000 products, and direct materials standards had been set at 10 pounds of direct materials at $12 per pound for each product produced. During the year, the company purchased and used 7900 pounds of direct materials with a cost of $12.02 per pound. Calculate the company's direct materials price and quantity variances for the year.

At the beginning of last year, Creative Productions set direct labor standards of 2 hours at $25 per hour for each product produced. During the year, 1700 direct labor hours were actually worked at an average cost of $26.00 per hour. Using this information and the applicable informatiom from above, calculate te company's direct labor rate and effieciency variences for the year.