Chapter 10 Sleepless Cola Company (SCC), a company that produces a number of different carbonated caffeinated beverages. The management of SCC has gathered data for one of its product lines, Twitch Cola, and wants to complete materials variances. After water, the main ingredient is sugar. For the most recent batch, SCC purchased and used 7400 Kg of sugar, at a price of $4.90 per Kg. The standards call for 6300 Kg and paying $3.25 per Kg. Using this information, calculate the following a. Materials Price Variance -2 Marks b. Materials Usage Variance -2 Marks In addition to the materials variances, the management at SCC would like to determine labour variances for Twitch Cola. For this batch of Twitch Cola, SCC used 1600 labour hours paying a total of $20800. The Standard Hours allowed is 1750. The HR Department has determined that the Standard Labour Rate should be $13.50 per hour. Using the above information, calculate the following: c. The Labour Rate Variance -2 Marks d. The Labour Efficiency Variance -2 Marks Correct answers for Chapter 10 must state whether the Variance isFavourable or Unfavourable.To receivefull credityour answermust be labeled as such. For example: An answer such as"- $4500"willnotbegivenfullcredit, even if the number is correct. The same number shown as"$4500 Favourable"would receive full marks.