1. Carpe Diem Co. reported the following variances for the period: Direct materials price variance Direct labour efficiency variance Fixed overhead volume variance Fixed overhead budget variance Direct materials quantity variance Direct labour rate variance $ 1,700 U 23,600 U 10,200 U 20,000 F 6,500 F 2,000 F Based on this information, which of the following statements is true? a) Spending on fixed overhead was greater than planned. c) The direct labour static budget variance is favourable d) The direct materials flexible budget variance is favourable