I have attached my question. It has questions from 1a) to 1g)

B E G 22 ABC Company uses a standard costing system for production costing and control. 23 Standard direct labor hours based on practical capacity are used to compute overhead 24 rates. The standard cost for the one of its products is as follows: 25 26 Quantity Cost per unit Total Cost 27 Raw material 4.0 kilograms $ 10.00 $ 40.00 28 Direct labor 2.6 hours 12.00 31.20 29 Variable overhead 2.6 hours 10.00 26.00 30 Fixed overhead 2.6 hours 6.00 15.60 31 32 Annual practical capacity: 60,000 units 33 34 During the year, the actual results are as follows: 35 Quantity Cost per unit Total Cost 36 Raw materials purchased 130,000 kilograms $ 9.40 $ 1,222,000 37 Raw materials, beginning 60.000 kilograms 10.00 600,000 38 Raw materials, ending kilograms 39 Direct labor 112,000 hours 13.00 1,456,000 40 Actual fixed overhead costs 756,000 41 Actual variable overhead costs 860,000 42 43 Actual annual production 55,000 units 44 45 Required: 46 Compute the following variances and state if they are favorable or unfavorable. 47 48 a) Direct material price variance. (2 Marks) 49 50 b) Direct material efficiency variance. (2 Marks) 51 52 c) Direct labor rate variance. (2 Marks) 53 54 d) Direct labor efficiency variance. (2 Marks) 55 56 Fixed manufacturing overhead spending variance. (2 Marks) 57 58 f) Fixed manufacturing overhead volume variance. (2 Marks) 59 30 g) Name two possible causes for the labor efficiency variance