Engineers at ABC company developed the following standard costs for direct material and direct labour for one of their major products:
Standard quantity Standard price
Direct materials 10 kilograms $5 per kilogram
Direct labour 0.5 hours $30 per hour
During 2014, the company produced and sold 100,000 units using 1,100,000 kilograms of direct materials at an average cost of $5.02 per kilogram, and total direct labour costs of $1,520,000 (49,000 DLHs incurred).Calculate the 2014 price and quantity (efficiency) variances, and total variances, for direct material and direct labour.