Need a formula calculation and explanation or analysis

The Ebonie Manufacturing Company's costing system has two direct cost categories: direct materials and direct manufacturing labour. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labour-hours (DLH). At the beginning of 20232023, Ebonie adopted the following standards for its manufacturing costs: Standards Input Cost per Output Unit Direct Materials Direct Manufacturin- Labour Manufacturing Overhead Variable 6. 00 S 30. 00 __m Standard Manufacturing Cost per Unit 5 160.00 The denominator level for total manufacturing overhead per month in 2022l2023 is 40,000 direct manufacturing labour-hours. Ebonie Manufacturing's exible budget for January 2023 was based on this denominator level. The records for January indicated the following: Direct Materials Used 23,100.00 ' kg Direct Manufacturing Labour 40 100. 00 Hours Total Actual Manufacturing Overhead (Variable & Fixed) 5 600 000. 00 - Actual Production 7,800.00 Output Units Required 1 Prepare a schedule of total standard manufacturing costs for the 7800 output units in January. [2 marks] 2 For the month of January 2023, calculate the following variances. indicating whether each is favourable (F) or unfavourable (U), in good format with workings: Direct materials price variance, based on purchases Direct materials efficiency variance Direct manufacturing labour price variance Direct manufacturing labour efciency variance Total manufacturing overhead spending variance Variable manufacturing overhead efciency variance Production-volume variance. [8 marks] ID'\"CDD.OUDI ACCM4100 Page 3 Assignment Iment classication: Internal K 3 Discuss at least 2 possible reasons for each of the above variances. [8 marks] 4 Explain the importance of performing variance analysis as part of the management accounting function? [6 marks] 5 Explain how management will use the results of this variance analysis. [6 marks]