& Many Mo Question The following Compaty Dect material 4kg a Direct labor Actual data.fix. Jndt. mom 30 per kg hours 120 por howe Units producet 20.000 Direct labor hours: 44,000 Direct materials med 70,000 kgs Direct labor rate per hour $13 Direct material price $5 per kg Required Direct materials purchased: 200,000 kgs (a) Compute the price and efficiency variances for direct materials and direct labor. Direct material price variance to be calculated at the time of purchase 5 marks) (b) Prepare the journal entries to recond the price and efficiency variances for direct materials and direct labor. For the toolbar, press ALT-10 (PC) or ALT-EN-F10 (Mac (5 marks) BIUS Paragraph Anal 3 10pt hp 1 x 0