Morrison fibre board manufacturers speciality fibre board for November Morrison had the following standard costs for its premier board fibre board X :direct material $3$ m$^2$ of input at dollar $5\mathrm{.}50$ per square metre direct manufacturing labour $0\mathrm{.}5$ hour of labour at $$10\mathrm{.}50$ per hour input, comprise wood fibre Formula dehydration designed glue and paraffin wax Morrison had provided you with the following data for actual performance actual fibre board produce $2200$ Square metres of input purchased and used $6200$ price per square metre $5\mathrm{.}70$ direct manufacturing labour coast $$9844$ actual hours of input $920$ labour price per hour $$10\mathrm{.}70$calculate showing all equations the price and efficiency variances for material and direct manufacturing labour give plausible explanation for what could have caused the variances