Let's Bat, Inc. manufactures aluminium cricket bats that it sells to Ministry of Education Schools athletic departments. It has developed the following per unit standard costs for 2016 for each cricket bat: Direct Materials Direct Labour Manufacturing Overhead Standard Quantity 3 pounds (Aluminium) 1 hour 1 hour Standard Price $3.00 $8.00 $5.00 Unit Standard Cost $9.00 $8.00 $5.00 In 2016, the company planned to produce 30,000 cricket bats at a level of 30 hours of direct labour. Actual results for 2016 are presented below: 1. Direct materials purchased were 85,000 pounds of aluminium which cost $357,000. 2. Direct materials used were 76,000 pounds of aluminium. 3. Direct labour costs were $196,800 for 20,500 direct labour labours actually worked. 4. Total manufacturing overhead was $127,000 5. Actual production was 28,000 cricket bats. Required: Compute the following variances: a) Direct material price variance (4marks) b) Direct material quantity variance (4 marks) (4 marks) c) Direct labour price variance d) Direct labour quantity variance (4 marks) e) Total overhead variance (4 marks)