Thompson Company uses a standard cost system for its single product. The following data are available:

Actual experience for the current year:

• Raw materials purchased and used (12,000 yards at $13.00 per yard)$156,000
• Direct labor costs (10,200 hours at $10.00 per hour) ............$102,000
• Actual variable overhead cost ......................................................$84,150
• Units produced ................................................................................12,600 units

Standards per unit of product:

• Raw Materials.................1.1 yarts at $15.00 per yard
• Direct Labor.....................0.8 hours at $9.50 per hour
• Variable Overhead........$8 per direct labor hour

Required:Show Your Work

Compute the following variances for raw materials, direct labor, and variable overhead, assuming that the price variance for materials is recognized at point of usage:

a. Direct materials price variance and Direct materials quantity variance.

b. Direct labor rate variance and Direct labor efficiency variance.

c. Variable overhead rate variance and Variable overhead efficiency variance.