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The KC Company has established standards as follows: Direct Material 3kgs @ $9/kg = $27 per unit Direct Labour 2hr. @ $14.25/hour = $28.50 per unit Variable Manufacturing Overhead 2hr @ $1.75/hour = $3.5 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. Units Produced 1.450 Direct Material Used 5,000 kg Direct Materials Purchased (5000kg) $37,500 Direct Labour Cost (2500 hrs) $36,250 Variable Manufacturing Overhead Cost Incurred $4,950 The company applies variable manufacturing overhead to products on the basis of direct labour hours. What was the materials price variance? A. $97,500 Favourable B. $7,500 Favourable C. $97,500 Unfavourable D. $7,500 Unfavourable What was the materials quantity variance? O A. $5,850 Favourable B. $5,850 Unfavourable C. $6,050 Favourable D. $6,050 Unfavourable What was the labour rate variance? O A. $625 Unfavourable O B. $3,500 Unfavourable C. $625 Favourable D. $3,500 Favourable What was the labour efficiency variance? A. $400 Unfavourable O B. $400 Favourable O C. $5,700 Favourable D. $5,700 Unfavourable