8. William Mooney is the owner of Crystals Lid, which manufactures handmade necklaces. You are the management accountant. The company uses a standard absorption costing system and the following printout shows details of the company's results relating to September 2019. Actual Budget Sales volume units 18,000 20,000 Selling price per unit E30 Production volume units 19,200 20,000 Direct materials total KG 38,000 40,000 Direct materials price per KG E0.90 f1.00 Direct labour hours per unit 2.00 2.40 Direct labour rate per hour $8.25 $8.00 Fixed overhead production E38,000 $40,000 Fixed overhead administration (24,000 $20,000 Required: Calculate the following variances: a) Material price variance. (5 marks) b) Material usage variance. (5 marks) c) Labour rate variance. (5 marks) d) Labour efficiency variance. (5 marks) e) Fixed overhead production expenditure variance. (5 marks) f) Sales margin price variance. (5 marks) g) Sale margin volume variance