DARKE Inc, makes a popular bowling ball The company wants to develop budgets (standards) for material, labour, and variable overhead. The budgeted (standard) cost for one bowling ball would be: Budgeted (standard) Cost Card for Bowling Balls Standard Standard Quentity Price or Hous or Rate 3.5 kilos $6 2.0 hours $18 per hour 2.0 hours $4 per hour Direct materials Direct labour Variable overhead Total standard cost per bowling ball per kilo (1) * (2 Standard Cost $21 38 8 $8.5 The following data are for last month's production: 5,000 units Number of bowling balls completed. Cost of material purchased (20,000 kilos x $5.40 per kilo) Kilos of material used $108,000 20,000 kilos 1. Required: Using the data above, compute the direct material price and efficiency variances for the bowling balls. (7 marks) 2. Using the data above plus: Actual direct labour-hours... Variable overhead costs incurred. 10.500 hours S40,950 Required: Compute the variable overhead spending frate) and efficiency variances for the bowling balls. 7 marks)