6:25 Manilow Company makes a perfume called Allure. The standard cost for one bottle of Allure is as follows: Direct material Direct labour hour 6 oz at $0.90 per oz 0.5 hours at $12.00 per During the month, the following transactions occurred in manufacturing 10,000 bottles of Allure: 1. 58,000 oz of materials were purchased at $1.00 per oz 2. All materials purchased were used to produce the 10,000 bottles of Allure 3. 4,900 direct labour were worked at a total labour cost of $56,350. Required: 1. Compute the following variance and state if they are favourable or adverse. i. Material price III 6:25 Material price [2.5 marks] ii. Material usage [3.5 marks] iii. Labour rate [2.5 marks] iv. Labour efficiency [3.5 marks] B. Outline two possible causes for EACH of the variances calculated above. [8 marks]