DEF Manufacturing Company set the following standards for one of its products:

| Direct Materials | Quantity: 4 units per product | Price: $15 per unit | | Direct Labor | 3 hours per product | Rate: $20 per hour |

During the month, 1,200 units were produced, and actual costs were as follows:

Actual Costs	Amount ($)
Direct Materials	72,000
Direct Labor	60,000

Required:

• Calculate the direct materials price variance and quantity variance.
• Determine the direct labor rate variance and efficiency variance.