1 SBS Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labour-hours. The standard costs for one unit of product are as follows: Direct material Direct labour Price and Rates (RM) Usage 0.50 Cost (RM) 5kg 2.5 10 2 hours 20 Variable manufacturing overhead Total standard variable cost per unit 5.00 2 hours 10 RM32.5 During June, 2,000 units were produced. And the following are the actual costs incurred for the month. Actual Price and Rates Usage Purchased Cost RM Direct material RM0.50 6kg 14,000 kg 7,000 Direct Materials Actually used 14,000kg Direct labour RM10.00 3,800 hours 38,000 Variable manufacturing overhead RM5.00 3,800 hours 19,000 The workers are demanding that their wages to be increased. Prepare a variance analysis for direct materials, direct labour, and variable manufacturing overhead variances. Indicate whether the company should consider increasing the wages