The standard costs and budget figures relating to production of Playfairs single product are:

Direct material 2 kgs @ $7.25 per kg $ 14.50

Direct labour of an hour @ $18 per hour $ 4.50

Factory Overhead $ 11.50

Standard Cost $ 30.50

Normal production: 12,000 units

Budgeted fixed overhead: $60,000

Overhead is applied on the basis of standard direct labour hours.

Actual data for the period:

Production: 12,250 units

Material purchased: 30,000 kgs @ $7.30 per kg

Material issued to production: 24,515 kgs

Direct labour cost: 3,064 hours @ $18.25 per hour

Factory overhead: $139,420 ($62,000 fixed)

Required

Calculate standard cost variances for DM, DL, VOH and FOH for the current period