Nakita Inc. makes a popular running jacket. The company is developing standards for material, labour, and variable manufacting overhead. The standard cost for one running jacket would be: SQ/SH SP/SR Standard Cost DM 3.5 meters $6/meter $21 DL 2 hours $18/hour $36 VMOH 2 hours $4/hour $8 Cost per Jacket $65 Data for last months production: # of jackets produced 5,000 jackets 20,000 meters of material purchased $118,000 Meters of material used 20,000 meters Cost of Direct Labour Hours (10,500 hours) $200,000 Variable OH Costs Incurred $40,950 Required: 1. Compute the direct materials price variance. 2. Compute the direct materials quantity variance. 3. Compute the direct labour rate variance. 4. Compute the direct labour efficiency variance. 5. Compute the variable overhead rate (spending) variance. 6. Compute the variable overhead efficiency variance. REMINDER: there are a couple of calculations you need to do before inputting the numbers into your formulas. ANSWER: