Preff and Sons had the following records for July:

Budgeted Actual

Units produced and sold 40,000 50,000

Direct materials $160,000 $233,200 for 106,000 pounds

Direct labor $200,000 $245,520 for 24,800 hours

Each unit is budgeted to require 2 pounds of direct materials and hour of direct labor.

Find the price and efficiency variances for direct materials and direct labor, then net them together (add favorable variances and subtract unfavorable variances). Show all calculations.