Tiger, Inc. has developed the following standard cost data based on 60,000 direct labor hours, which is 75% of capacity. 
During the last period, the company operated at 80% of capacity and produced 128,000 units. Actual costs were: 
Determine the direct materials price and quantity variances and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. 
Definitions:
4-Year Bond
A debt security that matures in four years from the issuance date.
Forward Rate
An interest rate agreed today for a loan to be made or a bond to be purchased at a future date.
Zero-Coupon Bond
A type of bond that does not pay interest during its life but is sold at a discount from its face value and pays its full face value at maturity.
Purchase Price
The amount of money paid to acquire a good or service.
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