Standard Costing and Variance Analysis for Direct Material and Direct Labor: A company sets standard costs for its product as follows:

Direct materials: 4 kilograms per unit at $5 per kilogram

Direct labor: 2 hours per unit at $12 per hour During the month, the company produced 2,500 units and incurred the following actual costs:

Direct materials: 10,500 kilograms at $4.80 per kilogram

Direct labor: 5,200 hours at $11.50 per hour Calculate the direct material price variance, direct material quantity variance, direct labor rate variance, and direct labor efficiency variance.