4. Graduatable Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor. Direct Materials : 10 gr. at $4.50 per gr. $ 45.00 Direct Labor : 0.5 hour at $30 per hour $ 15.00 The number of finished units budgeted for January 2019 was 10,000:9,850 units were actually produced. Actual results in January 2019 were: Direct Materials :98,055 gr. used Direct Labor :4,900 hours $ 154,350 Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchases amounted to 100 kg. at a total cost of $465,000. a. Compute the January 2019 price and efficiency variances of direct materials and direct labor (20 pts) b. Comment on the January 2019 price and efficiency variances. (10 pts)