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Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $8.00 per kg Direct labour: 4 hours at $17 per hour Variable overhead: 4 hours at $4 per hour Total standard cost per unit $ 48.00 68.00 16.00 $ 132.00 The company planned to produce and sell 19,000 units in March. However, during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 160,000 kg of raw materials at a cost of $720 per kg. All of this material was used in production b. Direct labour. 72,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $336,960. 1. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).) Materials price variance 2. What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).) Materials quantity variance 3. If Preble had purchased 187,000 kg of materials at $7.20 per kg and used 160,000 kg in production, what would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Do not round intermediate calculations.) Materials price variance 4. If Preble had purchased 187,000 kg of materials at $7.20 per kg and used 160,000 kg in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Do not round intermediate calculations.) Materials quantity variance 5. What is the labour rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect fi.e., zero variance.). Do not round intermediate calculations.) Labour rate variance 6. What is the labour efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Do not round intermediate calculations.) Labour officiency variance The direct materials and direct labour standards for one bottle of Clean-All spray cleaner are given below: Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 6.0 mi 1111itres $ 0.31 per millilitres $ 1.86 Direct labour 0.5 hours $ 12.00 per hour $ 6.00 During the most recent month, the following activity was recorded: a. 28,500 mililitres of material was purchased at a cost of $0.26 per millilitre. b. The company produced only 2,000 bottles, using 24,500 millilitres of material (The rest of the material purchased remained in raw materials inventory.) c. 700 hours of direct labour time was recorded at a total labour cost of $8,400. Required: Compute the direct materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance