Lounge Co. produces hammocks and has determined the following direct cost categories and budgeted amounts:

	Standard inputs for one unit of output	Standard cost for one unit of input
Direct materials	1.00	$5.00
Direct labour	0.30	10.00

Actual performance for the company is shown below:

Actual output (in units):	3,795
Materials costs	$18,690
Inputs purchased and used	3,560
Actual price per input	$5.25
Direct labour:
Labour costs	$11,865
Labour hours of input	1,130
Actual price per hour	$10.50

Required (SHOW YOUR WORK)

Calculate the following:

Rate, and efficiency variances for direct material

Rate, and efficiency variances for direct labour