Assignment Topic You are the Chief Cost Accountant (CCA) for Super Efficient Manufacturers WLL Your Com Accountant ha pive you the following variance information for the month of November 2020 Variance Calculation Formule Farve BDJOU Materials Price Variance MPV-AQCAP-SP) BDZIO F Materials Quantity Usage Variance MOV-SPAQ-50) BD500 Labor Rate Variance LRY - AHEAR.SK B1250 F Labor Efficiency Variance LEV-SRIAH-SH) BD100U Variable Manufacturing Overhead Rate Variance VMRY-AHAR-SR) Variable Manufacturing Overhead Efficiency Variance VMEV - SRAAH-SH) BD400F 40 - Actual Quantity, AP - Actual Price, SP - Sundard Price, Q-Standard Quantity AH - Actual Hours, AR - Actual Rade SR Sundard Rate, SH - Standard Hours Each of the above favourable (F) and Unfavorable {U) variances could be attributable to any number of Most of these variances are the responsibility of either the Chief Purchasing Of5ce (CPO) or the Chief Production Officer (CPO). Required: write a professional letter (5 mark) to the Chief Executive Officer (CEO), covering the following (a) For each of the six variances state and justify one possible cause marks) 6) For each of the six variances stade, giving your reason, the most likely responsible Chief. (6 marke) Define responsibility accounting and explain how standard costing can be used for responsibility accounting. 5 marka) Total Marksmark Notes professional letters include appropriate addresses, date, beating and signature)