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

| Direct Materials | Quantity: 5 units per product | Price: $10 per unit | | Direct Labor | 2 hours per product | Rate: $12 per hour | | Variable Overhead| $5 per unit | | Fixed Overhead | $30,000 per month |

During the month, 2,000 units were produced, and actual costs were as follows:

Actual Costs	Amount ($)
Direct Materials	48,000
Direct Labor	24,000
Variable Overhead	10,000
Fixed Overhead	32,000

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.