Rhodes Corporation manufactures a product with the following standard costs:

Direct materials (20 yards @ $1.85 per yard) $ 37.00 Direct labor (4 hours @ $12.00 per hour) 48.0

The following information pertains to the month of July:

Direct materials purchased (16,000 yards @ $1.80 per yard) $28,800 Direct materials used (9,400 yards) Direct labor (1,880 hours @ $12.20 per hour) 22,936 Actual production in July: 460 units

Compute the following variances for the month of July, indicating whether each variance is favorable or unfavorable: (1) Materials purchase price variance (2) Materials quantity variance (3) Labor rate variance (4) Labor efficiency variance