Use the italicized information to answer questions 1 through 5. [Note, this has been previously answered on Chegg, but his answers for at least questions 1 through 3 are incorrect.]

Vernon Mills, Inc. is a large producer of mens and womens clothing. The company uses standard costs for all of its products. The standard costs and actual costs per unit of product for a recent period are given below for one of the companys product lines

Direct materials:

Standard: 4.0 yards at $5.00 per yard

Actual: 4.5 yards at $5.50 per yard

Direct labor:

Standard: 1.5 DLH at $6.00 per hour

Actual: 1.25 DLH at $6.50 per hour

Variable Overhead:

Standard 1.5 DLH at $2.70 per DLH

Actual 1.25 DLH at $2.50 per DLH

During this period, the company produced 5,000 units of this product. There was no inventory of materials on hand at the beginning of the period. During the period, 22,000 yards of materials were purchased, all of which were used in production.

1. What is the Direct Materials Price Variance?

2. What is the Direct Material Quantity Variance?

3. What is the Direct Labor Rate Variance?

4. What is the Direct Labor Efficiency Variance?

5. What is the Variable Overhead Rate Variance?