. Phuket Inc. has the following standards for direct material and direct labor (direct material standards are $10 per pound of material and 8 pounds of material per unit ) and ( direct labor standards are 1.25 hours of direct labor per unit at a cost of $40 per labor hour ).

The actual cost and usage for direct material are as follows: $11 per pound of material and 90,000 pounds were actually used .

Actual direct labor cost and usage was as follows: 12000 hours and $42 per hour.

Anticipated output was 12,000 units of product ,and actual output was 11,000 units of product.

Required: Calculate the direct material and direct labor price and quantity ( volume) variances