Smart Limited (SL) has provided you the following standard and actual data for the year ended 31 December 2023: Production and sales Sales Material Labour Overheads Fixed Variable Standard Actual Units Rs. 10,000 37,500,000 11,000 42,000,000 Rs. 22,800,000 25,210,000 Rs. 6,760,000 6,965,000 Rs. 3,100,000 2,900,000 Rs. 3,540,000 3,949,000 As per standard, each unit of finished product requires 10 kg of material and 2 hours of labour. SL follows the policy to absorb overheads at a predetermined rate per labour hour. The finance department has conducted an analysis of the variation between the standard and actual figures, and identified that on the cost side, a positive development was observed in the procurement of materials, which saw a 10% reduction in prices compared to the standard estimates. Conversely, labour cost did not follow this trend and instead experienced a 8% increase over the standard rates, indicating higher expense in this area. Required: Compute the following: Sales price and volume variances Material price and usage variances Labour rate and efficiency variances Fixed overhead spending and volume variances Variable overhead expenditure and efficiency variances