A. Budgeted production of product V is 650 units each period. The standard cost card for product V contains the following information .......................................................................................................................... per unit Ingredients 12 litres @ 4 per litre 48 Direct labour 3 hours @ 9 per hour 27 Variable production overhead 3 hours @ 2 per hour 6 During the latest period, 670 units of product V were produced. The actual results recorded were as follows: Ingredients purchased and used 8,015 liters 33,663 Direct labour 2,090 hours 17,765 Variable production overhead 5,434 Qn1. The ingredients price variance is: a) 1,503 favourable b) 1,503 adverse c) 1,603 favourable d) 1,603 adverse B. The ingredients usage variance is: a) 100 favourable b) 100 adverse c) 105 favourable d) 860 adverse C. The labour rate variance is a) 325 favourable b) 325 adverse c) 1,045 favourable d) 1,045 adverse D. The labour efficiency variance is a) 680 adverse b) 720 adverse c) 720 favourable d) 1,260 adverse E. . The variable overhead expenditure variance is: a) 1,254 favourable b) 1,254 adverse c) 1,534 favourable d) 1,534 adverse