Chiu Enterprises, which produces a single product, has prepared the following standard cost sheet for one unit of the product. 

Direct materials (8 kilograms at HK$25 per kilogram).................HK$200

Direct labor (3 hours at HK$120 per hour).....................................HK$360

During the month of April, the company manufactures 230 units and incurs the following actual costs. 

Direct materials purchased and used (1,900 kilograms)........................HK$50,350

Direct labor (700 hours)..............................................................................HK$81,200

Instructions

Compute the total, price, and quantity variances for materials and labor.