Baron Ltd makes a commercial cleaning compound known as Loomp The direct materials and direct labour standards for one unit of Loomp follow Standard Quantity Standard Price or or hours Direct materials 2.1 Kg 0.2 hour Direct Labour Rate $5.50 per kg 12.00 per hour Standard Cost $11.55 2.40 During the most recent month, the following activity was recorded Da. 9,000 kg of materials were purchased at a cost of $5.20 per kg 1 b. All of the material purchased was used to produce 4,000 units of Loomp 2 c A total of 750 hours of direct labour time was recorded at a total labour cost of $10,425 3 4 Required: 51. Compute the direct materials price and quantity variances for the month and explain in details what was happening to the business 72. Compute the direct labour rate and efficiency variances for the month and explain in details what was happening to the business B 9 D 1 3 4 6