Given the following information for ARC Inc.: Budget Actual Units produced 10,000 9,500 Materials (kg) 400 405 Direct Labour (Hours) 35,000 32,300 Material Costs $8,000 ? Direct Labour Costs $385,000 $365,750 Variable Overhead Costs $350,000 $340,000 Fixed Overhead Costs $160,000 $161,000 Other Information Overhead is Allocated based Normal costing and budgeted Direct Labour Hours During the year, 500 kg of materials were purchased for $9,000 Beginning Inventory: none Ending Inventory: 95kg Required: Calculate the following variances A. Material Rate and Material Efficiency B. Labour Price and Labour Efficiency C. Variable Overhead Rate and Variable Overhead Efficiency D. Fixed Overhead Rate and Fixed Overhead Production Volume E. What can you interpret from the result to offer to ARC Inc