53. Perform a variance analysis for a production process with the following data:

Category	Actual Costs ($)	Standard Costs ($)
Direct Materials	50,000	45,000
Direct Labor	38,000	35,000
Variable Overhead	25,000	20,000
Fixed Overhead	18,000	15,000

Requirements:

• Calculate the total variance for each category.
• Analyze the variances into price and efficiency components.
• Present the analysis in a variance report.
• Discuss potential causes of each variance.
• Provide recommendations for cost control based on the analysis.
• Summarize the impact of variances on profitability.