Stewart Corporation makes a product with the following standard costs Standard Standard Standard Quantity Price or Cost Per Unit or Hours Rate Direct 9.3 $8.00 per $74.40 materials pounds pound Direct 0.4 hours per hour $19.00 $7.60 company reported the following results concerning this product in August The Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases $264,420 Actual direct labor cost 3,000 units 3,100 units 30,370 pounds 33,900 pounds 1,340 hours $27,872 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. Required: a. Compute the materials quantity variance. b. Compute the materials price variance. c. Compute the labor efficiency variance. d. Compute the labor rate variance