Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy:

Direct Materials: 7 microns per toy at $0.32 per micron

Direct Labor: 1.2 hours per toy at $7.10 per hour

During July, the company produced 5,400 Maze toys. Production data for the month on the toy follow:

Direct materials: 79,000 microns were purchased at a cost of $0.28 per micron. 31,750 of these microns were still in inventory at the end of the month.

Direct labor: 7,080 direct labor-hours were worked at a cost of $53,100.

Required:

1. Compute the following variances for July:

a. The materials price and quantity variances

Material price variance ______

Material quantity variance ______

b. The labor rate and efficiency variances.

Labor rate variance _____

Labor efficiency variance ______