The Tachanka Company uses standard costing and has established the following direct material and direct labor standards for each unit of the single product it makes:

Direct materials4 gallons at $8 per gallon Direct labor1 hour at $16 per hour

During July, the company made 6,000 units of product and incurred the following costs:

Direct materials purchased26,800 gallons at $8.20 per gallon Direct materials used25,200 gallons Direct labor used5,600 hours at $15.30 per hour

Required: Compute the materials price and quantity variances for the month. ii. Compute the labor rate and efficiency variances for the month.