Raytherm makes heat shrinkable tubing for the electronics industry. The following standards have been developed by the industrial engineering department of Raytherm for inch heat shrinkable tubing:

Raw Material Standard:

Irradiated polyethylene plastic: .1 ounces per foot of tubing at 5 cents per ounce ($.80 per pound).

Direct Labor Standard:

.001 hours per foot at $25 per hour including benefits.

During the month 900,000 feet of tubing was produced and the following costs were incurred:

Actual raw material purchased:

12,250lbs (196,000oz) for a total cost of $9,500.

Actual raw material used;

6,225 lbs (99,600oz)

Actual direct labor incurred:

Direct labor hours incurred: 980

Total payroll cost including benefits: $26,700

Required: Use the following equations to calculate the following variances:

PPV=(AP-SP)AQP

MUV=(AQ-SQ)SP

LRV=(AR-SR)AH

LEV=(AH-SH)SR