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* CompositeStone is producing wash-basins from a stone like composite material. They decided to buy a more expensive material that is more efficient in production: budgeted price was 7.00/kg, actual price is 8.20/kg. Budgeted usage is 20kg/ product. Standard time to produce one wash-basin is 2 hours. Budgeted hourly rate is 28.00/hr, actual spending is 26.50/hr. CompositeStone produced last quarter 14400 units; they used 232000kg of material and paid 29000hr of labor. Calculate price and quantity variance, profitlloss (real costs compared to budgeted costs) for material, labor and total. Indicate for each of the elements of your calculation if they are favorable (F) or unfavorable (U). Give a short comment on your findings. \& Calculate the budgeted and the actual cost price of one wash-basin