Mica Manufacturers makes and sells a single product. The company operates a standard costing system. Details of the budgeted and actual data for 2022 are as follows:

Budgeted Data:

Standard production costs per unit

Direct Materials - 6kg at cost of R12 per kg

Direct Labour - 3hrs at R10 per hour

Variable overheads - 3hrs at R5 per direct labour hour

Fixed manufacturing overheads - R180 000

Standard Selling price - R200 per unit

Production and Sales - 10 000units

Actual Data:

Direct Materials - 65 000kg @R13 per kg

Direct labour - 29 000 hours @R11 per hour

Variable overheads - R130 500

Fixed Manufacturing overheads - R188 500

Selling price - R195

Production and sales - 10 000 units

Calculate the following variances from the information provided above. In each case, state whether the variance is favourable or unfavourable

1. Material Quantity Variance

2. Labour Rate Variance

3. Labour efficiency variance

4. Variable overheads efficiency variance

5. Variable overheads expenditure variance

6. Fixed overheads volume variance

7. Sales price variance