1. Prepare a variance analysis of sales for volume and price, as well as a variance analysis for direct material and direct labour for cost and efficiency. Further, you will recast the static budget for actual volumes to assist in your variance calculations in the Activity 8 calculations Excel document. 2. Provide a written explanation of the reasons for the variances and their significance, in the 2019 detailed variance report. Variances Analysis (describe what the result means) Sales price Sales volume Direct materials price and efciency Direct labour rate and efficiency