Gates Corporation reported the following information concerning its direct materials:

Direct materials purchased (actual)	$	677,500
Standard cost of materials purchased	$	697,000
Standard price times actual amount of materials used	$	448,500
Actual production		22,900	units
Standard direct materials costs per unit produced	$	19.1

Required:

Compute the direct materials cost variances.

Direct Materials	Answer
Price Variance
Efficiency Variance
Cost Variances