Westwood Company produces a commercial cleaning compound known as Tyrod. The direct materials and direct labor standards for one unit of Tyrod are given below: Standard Cost $11.50 $2.40 Standard Quantity Standard Price or Hours or Rate Direct materials 4.6 pounds $2.50 per pound Direct labor. ..... 0.2 hours $12.00 per hour During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per lb b. All of the material purchased was used to produce 4,000 units of Tyrod. c. 750 hours of direct labor time were recorded at a total labor cost of $10,425. Required: 1. Compute the direct materials price and quantity variances for the month. 2. Compute the direct labor rate and efficiency variances for the month. 3. Prepare a brief explanation of the possible causes of each variance