Direct materials Hawkins Inc. (HI) produces a popular brand of hockey gloves which it sells to wholesalers at a price of $50. Hl uses standard costing and has determined the following standard costs for a budgeted production level of 5,500 units: 0.75 metres $14.5 per metre Direct Labour 0.5 hours $20 per DLH Variable MOH 0.5 hours $10 per DLH Fixed MOH 0.5 hours $12 per DLH In the most recent month, a total of 8,000 units were produced and sold. Additional information: 1. He purchased 5,000 metres of direct materials during the month at a total cost of $75,000. It had 1,000 metres on hand at the beginning of the month, and it ended the 2. During the month, Hi incurred 3.200 direct labour hours at a total cost of $62,400 3. The total manufacturing overhead during the month was $65,000, of which variable manufacturing overhead consisted of $30,000 Required: a) Calculate the following variances and note them in the blanks. Do not include brackets in your response. Space has been provided below to show calculations, if desired. This is optional Labour rate Variance was $ (State F for favourable, U for unfavourable) Labour efficiency Variance was $ (State Ffor favourable, U for unfavourable) b) Calculate the following variances and note them in the blanks. Do not include brackets in your response. Space has been provided below to show calculations, If desired. This is optional Fixed overhead budget variance was $ Fixed overhead volume variance was State F for favourable, U for unfavourable) State F for favourable. U for unfavourable)