The data below relate to a product of Colfax Company:

-Standard costs: Material, 2 pounds at $6 per pound $12 per unit

-Labor, 3 hours at $15 per hour $45 per unit

-Budgeted production for the year 4,000 units

Actual results were:

Production 3,600 units

-Material purchases, 8,000 pounds $46,400

-Labor, 10,360 hours $160,580

-Material used in production 7,300 pounds

Requirements: Compute the following: (Be sure to indicate whether the variance is favorable or unfavorable.)

-Direct material price variance

-Direct material quantity variance

-Direct labor rate variance

-Direct labor efficiency variance