Just Right Inc . produces jeans.The following standards have been established: Direct materials(4metres@R120) Direct labour (1.5 hours @R90)R135. During the year, 25 000 pairs of jeans were produced . 150 000 metres of demin were purchased and used at R123 per metre. Actual direct labour hours were 36 800 at R92.50 per hour. Required:1. Calculate all direct materials and direct labour variances . 2. Prepare the following journal entries: a. Purchase of raw material b. Issuance of raw materials c. Addition of labour to work in process d. Closing of variances to cost of goods sold.