The Excursy Company produces toys for national distribution. Standards for a particular toy are: Materials: 12 grams per unit at $.56 per gram. Labour: 2 hours per unit at $2.65 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: Materials: 13,000 grams were purchased and used at a total cost of $7,140. Labour: 2,500 hours worked at a total cost of $8,000.

Calculate the following: (4 marks)

• Material Price Variance ____________________________
• Materials Quantity Variance ____________________________
• Labour Rate Variance ____________________________

Labour Efficiency Variance ____________________________