The following actual data was given for the firm. 8,000 pounds of material were purchased costing $ 40,000 Four hundred units were produced requiring 1200 labor hours costing $6,000 and 2, 000 pounds ofmaterial . The standard for labor is 2 hours per unit with a wage rate of $6 per hour and for materials 4 pounds per unit at a price of $7 per pound.

A)10% - Calculate all labor variances

B) 10%-- Calculate all material variances