S Corp makes a single product named product S with standard cost info

DM 5 lbs. @ $13

DL 1 hr. @ $15

following information is also available

Units 18,000 15,000

actual budgeted

sales 3,548,000 3,000,000

COGS

DM 1,185,000 975,000

DL 278,000 225,000

Man. OH 773,500 755,000

2,236,500 1,955,000

Gross Margin 1,3111,500 1,045,000

Selling exp (474,000) (430,000)

Admin. Exp (456,000) (456,000)

Income 371,000 159000

During period, 120,000 lbs of direct materials were purchased the company actually used 118,500 lbs of materials and 22,240 direct labor hours in production. Thre dm price variance is recorded at time of purchase

1. compute the direct materials price variance

2. compute the direct materials usage (quantity) variance

3. compute the direct labor rate variance

4. compute the direct labor efficiency variance