4. The labour efficiency variance for July is: (a) (b) (C) (d) 375 F 375 A 5,400 A 5,400 F 5. The Labour rate Variance for July is: (a) (b) (C) (d) 6,000 A 5,775 F 5,775 A 6,000 F 6. Notts Ltd's cost of sales on its statement of profit or loss for the ended 31 December 2020 is 105,066. Its inventory at 31 Dec 2019 is 6,430 and at 31 Dec 2020 is 5,757. Its trade payables at 31 December 2019 is 9,204 and at 31 December 2020 is 8,580. Calculate the purchases for the year ending 31 Dec 2020 (a) (b) (C) (d) 104,393 110,823 105,317 98,636 7. A company had the following assets and liabilities as at 31 December 2020: Share capital Trade and other payables Bank overdraft Trade and other receivables Inventory Plant and equipment Long-term bank loan 20,000 15,000 10,000 18,000 20,000 35,000 18,000 Calculate the working capital for the company as at 31 December 2020 (a) (b) (c) (d) 33,000 30,000 13,000 23,000