Toyota Motor Corporation set the following standards for one of its vehicle models:

| Direct Materials | Quantity: 200 kg per unit | Price: $10 per kg | | Direct Labor | 10 hours per unit | Rate: $25 per hour| | Variable Overhead| $2,000 per unit | | Fixed Overhead | $500 million per year |

During the month, 5,000 units were produced, and actual costs were as follows:

Actual Costs	Amount ($)
Direct Materials	2.5 billion
Direct Labor	1 billion
Variable Overhead	5 billion
Fixed Overhead	600 million

Required:

• Calculate the direct materials price variance and quantity variance.
• Determine the direct labor rate variance and efficiency variance.
• Analyze the variable overhead spending variance.