For that, you have to calculate:

1. The difference between the incurred (fact) variable costs of January and the budgeted (planned) variable costs for the production of products that are actually produced - 530 units

2. Direct material cost variances

1) direct material price , 2) direct material usage

3. Direct labour cost variances

Direct labour rate 2) Direct labour usage (efficiency)

4. Variable overhead variances

Variable overhead expenditure variance

Variable overhead efficiency variance

5. Total cost variances as sum of p.2 + 3 + 4. It should be equal result in p.1 (The difference between the incurred (fact) variable costs of January and the planned variable costs)

A company manufactures a single product. The standard cost card for one unit of the nroduct is aiven: For January, the company had budgeted to produce 550 units, but 530 units were actually produced and the costs incurred were as follows