Metric Space Inc. uses a standard cost system. The following information pertains to Metric Space for the month of November. The master budget was to manufacture 20,000 units of output. Standard cost for producing one unit of output: Direct materials: 8 kg. x $1.80 Direct labour: 2 hours x $25 Variable overhead: 2 hours x $6.30 Fixed overhead: 2 hours x $8.50 $14.40 50.00 12.60 17.00 $94.00 Additional information - Quantity of direct materials purchased Actual cost of direct materials purchased Quantity of direct materials used Actual labour cost (38,700 hours x $24.75) Actual variable overhead costs Actual fixed overhead costs 160,000 kg. S304,000 150,500 kg. $957,825 $238,800 S332,600 Units of output produced 19,000 Required - Calculate the following variances: a) Direct materials price and quantity/usage b) Direct labour rate and efficiency c) Variable overhead spending and efficiency d) Fixed overhead budget and volume