45 minutes) EXF You are the management accountant of T Ltd. The following computer printout shows de April: Standard Sales volume Selling price per unit Production volume Direct materials Kilograms Price per kilogram Direct labour Hours per unit Rate per hour Fixed overhead Production Administration 3.1 Actual 4 900 units R150 5 400 units 3.2 10 600 R6 0.55 R114 R103 000 R31 000 Budget 5 000 units R140 5 000 units 10 000 R5 0.50 R120 T Ltd uses a standard costing absorption costing system. There was no beginning or enc process. Required: R100 000 R30 000 Calculate the direct materials price and usage variances. Calculate the direct labour rate and efficiency variances. Calculate all fixed overhead variances. 3.3 3.4 Close off all the variances to the cost of goods sold account