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

| Direct Materials | Quantity: 6 units per product | Price: $8 per unit | | Direct Labor | 4 hours per product | Rate: $15 per hour | | Variable Overhead| $6 per unit | | Fixed Overhead | $25,000 per month |

During the month, 2,500 units were produced, and actual costs were as follows:

Actual Costs	Amount ($)
Direct Materials	52,000
Direct Labor	40,000
Variable Overhead	16,000
Fixed Overhead	26,000

Required:

• Calculate the direct materials price variance and quantity variance.
• Determine the direct labor rate variance and efficiency variance.
• Analyze the variable overhead spending variance.