During January, Microchem Ltd produced 1000 units of a special product called Stylex, and the accounting records indicated the following:

Direct material purchased 36 000 kilograms @ $2.76 per kilogram

Direct material used 19 000 kilograms

Direct labour 4 200 hours @ $36 per hour

Stylex has the following standard prime costs:

Direct material: 20 kilograms @ $2.70 per kilogram $ 54.00

Direct labour hours: 4 hours @ $35 per hour 140.00

Standard prime cost per unit $200.00

Required:

1.Calculate the total standard direct material costs and direct labour costs for January.

2. For the month of January, calculate the following variances, indicating whether each is favourable or unfavourable:

(a) direct material price variance

(b) direct material quantity variance

(c) direct labour rate variance

(d) direct labour efficiency variance.

3. Demonstrate how the solution will change if the following information changes: the standard direct labour rate is $38 per hour and the standard direct material price is $3 per kilogram.

Please solve the question completely ( with steps) if you are completely sire about it, otherwise i will downvote it.

Thanks.