Ginno Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $100 per board. This includes 20 pounds of direct materials, at the budgeted price of $2 per pound, and five hours of direct manufacturing labor, at the budgeted rate of $12 per hour. Following are additional data for the month of July:

Units completed 6,000 units

Direct material purchases 150,000 pounds

Cost of direct material purchases $292,500

Actual direct manufacturing labor-hours 32,000 hours

Actual direct-labor cost $368,000

Direct materials efficiency variance $ 12,500 U

There were no beginning inventories.

1. Compute direct manufacturing labor variances for July.

2. Compute the actual pounds of direct materials used in production in July.

3. Calculate the actual price per pound of direct materials purchased.

4. Calculate the direct materials price variance.