Following information relates to Confusion Corporation Standard or Budgeted Costs Actual Costs. Material: 5kg per unit @ $ 25 per unit Labor: 4hours per unit @ $6 per unit.

3,000 units were made using 18,000 kg @$30 per unit and 38,000 hours were used @ $ 4.5 per hour.

Required: Calculate 1. Material Quantity Variance (MQV) 2. Material Price Variance (MPV) 3. Total material Variance or Overall Material Variance (TMV) 4. Labor Rate Variance (LRV) 5. Labor Efficiency Variance (LEV) & overall labor variance.