Lodge Crab Cakes Ltd. has prepared the following standard costs per dozen crab cakes: Standard Quantity (or Hours) Direct Materials (crab meat) 0.6 kg Direct Labour 1.5 hours Variable Overhead 1.5 hours Total Standard Cost(per dozen crab cakes) Standard Price Standard Cost (or Rate) per dozen crab cakes $14.00/ kg $8.40 $10.00 / hr $15.00 $3.00/hr $4.50 $27.90 The company allocates variable overhead based on direct labour hours. Last month, Lodge Crab Cakes Ltd. produced 2,000 dozen crab cakes and incurred the following actual costs: Det materials Purchased 1,500 kg of crab meat at $13,50 per kilogram. 1,250 kg of crab meat were used in production of the 2,000 doze cakes Dired about 3200 hours worked for a total cost of $35,200. Variable overhead Total cost was $8.400. Required the direct materials price and quantity variances. Label your variances and indicate if favourable or unfavourable. (4 marks) o d bourate and efficiency variances. Label your variances and indicate if favourable or unfavourable. (2 marks) the variable overhead spending and variable overhead efficiency variances. Label your variances and indicate if favourable or