a) direct material price variance

b) direct material usage variancr

c) direct labour procr variance

d) direct usage variance

e) total variable overhead varianxe

f) fixed overhead spending variance

g) fixed overhead volume variance

Variances - 21 Marks Flinders uin ted produces a number of products, including a simal Austrelian Fay. The firm, which began operations at the beginning of the curtent yex, iees a standard cont system The standard costs fot one Australian Flag are: The 10.50 ficed overhesd rate is baled on total budgeted output of 34.000 fiagr and budpeled foed overthed costs of 517000 : There x ite no changes in acy inventovy The 50.50 tined overhead rate if based on total burgeted outpur of 34000 flags and budgeted faed overhead costs of 517,000 . There were no changes in any irventory Mccounts/amounts during the period the company manutactured and sold 35.000 units at the following costs: This question has seven (7) Parts. Answer Parts (a) to (g) below: Compute and Label as either Favourable (F) of Unfavourable (U) the following flexible budget variances