Minh Hoang manufactures product B. The company uses a standard costing system and sets the following standards for direct materials and labor (for a single product):

Item	Norm	Unit price	Cost
Direct material	1kg	150,000 VND/kg	150,000VND/unit
Direct labor	4 hour	20,000 VND/hour	80,000 VND/unit

Minh Hoang produced 100,000 products of A with the material consumption of 110,000kg with the unit price of 155,000 VND/kg. Actual labor is 410,000 hours with unit price of 25,000 VND/hour. Expected output is 105,000 products.

Required:

1. Break down the material cost variance into different related variances: price variance, usage variance and volume variance.
2. Break down the labor cost variance into different related variances: price variance, usage variance and volume variance.
3. Identify favorable and adverse variances.