1.4 REQUIRED Calculate the following variances from the information provided below. In each case also state whether the variance is favourable or unfavourable. 1.4.1 Labour rate variance (2 marks) 1.4.2 Labour efficiency variance (3 marks) 1.4.3 Total labour variance without using the labour rate variance and labour efficiency variance. (3 marks) INFORMATION Raleigh Enterprises manufactures bicycles. During the year 3 000 bicycles were produced. The actual labour time was 28 000 hours at a total cost of R2 660 000. Raleigh Enterprises had the following labour standard for the 4 000 bicycles that it expected to produce during the year: 9 hours per unit at R90 per hour QUESTION 2 (20 Marks) REQUIRED Use the information given below to prepare the Income statement of Kendall Manufacturers for October 2023 using the following methods: 2.1 Marginal costing 2.2 Absorption costing. (10 marks) (10 marks) INFORMATION The following information was provided by Kendall Manufacturers for the only product produced during October 2023: Opening inventory Number of units manufactured Sales Selling price per unit Variable manufacturing costs per unit Fixed manufacturing overhead cost Variable selling cost per unit Fixed selling cost Fixed administrative cost Nil 5 000 R4 200 000 R1 000 R425 R325 000 R80 R175 000 R200 000