Ocean Manufacturing Ltd manufactures chemical fertilizers using the following standard specification.

Standard direct labour: 4,800 hours at 1.90 per hour

Standard direct materials: 3,500 meters at 3 per meter

The actual results are as follows:

Actual labour hours were 4,750 hours costing 19,000.

The actual amount of materials used was 3750 meters costing 22,875.

You are required to calculate the following.

1. Material price variance (1 mark)

2. Material usage variance (1 mark)

3. Labour rate variance (1 mark)

4. Labour efficiency variance (1 mark)