Amir Fikri Enterprise produces a product called AF. The company has set the following standard for producing one unit of AF: Quantity per unit RM per kg 3.50 Direct Material: 3 kg Direct labour: Hours per unit 3.5 hrs RM per hour 4.00 Variable overhead: RM5.00 per hour Selling price RM85.00 per unit Budgeted fixed costs per year are estimated to be RM540,000. Estimated production and sales are 8,000 units and 7,500 units per month respectively. Variable overhead is absorbed based on direct labour hour and fixed overhead is absorbed based on number of units produced. Actual production and sales are 7,500 units for the month of December 2021 and the following costs are incurred: Direct material: (Purchased 24,000 kg, Usage 23,000 kg) Direct labour: (25,500 hours) Overheads: Variable Fixed Required: Identify one reason for each of the following variances. a. i. Material price (adverse) ii. Material usage (adverse) iii. Labour efficiency (adverse) Total RM78,000 RM99,450 RM145,000 RM60,000 (3 marks)