Explanations for the variances in the following report. how can I explain the meaning of each of SeeScan's materials, labour, and overhead variances?

Sales revenue $1,200,000

Cost of goods sold at standard cost 700,000

Manufacturing cost variances:

Direct materials price variance $8,000 F

Direct materials efficiency variance 32,000 U

Direct labour price variance 24,000 F

Direct labour efficiency variance 10,000 U

Manufacturing overhead flexible budget variance 28,000 U

Production volume variance 8,000 F

Total manufacturing variances 30,000

Cost of goods sold at actual cost 730,000

Gross profit 470,000

Marketing and administrative expenses 418,000

Operating income $52,000