Curious Limited manufactures a single product, a laminated kitchen unit which has a standard cost of $80 made up as follows: $ Direct Materials 15 sq. metres @$3 per sq. metre 45 Direct labour 5 hours @ $4 per hour 20 Variable overheads 5 hours @ $2 per hour 10 Fixed overheads 5 hours @ $1 per hour 5 80 The standard selling price of the kitchen unit is $100. The monthly budget projects production and sales of 1000 units. Actual figures for the month of April are as follows: Tasks: Sales 1200 units @ $102 Production 1400 units Direct materials 22000 sq. metres @ $4 per sq. metre Direct wages 6800 hours @ $5 Variable overheads $11000 Fixed overheads $6000 a. i. Calculate the following variances: Material price ii. Material usage iii. Wage rate iv. Labour efficiency V. Fixed overhead expenditure vi. vii. Variable overhead expenditure Sales margin price viii. Sales margin volume