Ravena Labs., Inc. makes a single product which has the following standards:

Direct materials: 2.5 ounces at $20 per ounce

Direct labor: 1.4 hours at $12.50 per hour

3,750 units of compound were produced during the month. There was no beginning direct materials inventory.

Direct materials purchased: 12,000 ounces for $225,000.

The ending direct materials inventory was 2,000 ounces. Direct labor-hours worked: 5,600 hours at a cost of $67,200.

Required: Show all calculations

1. Compute the materials price variance for October

2. Compute the materials quantity variance for October

3. Compute the labor efficiency variance for October