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Given the following data: Direct Direct Material Labor Standard Standard price per unit of input $10 per foot A $10 per hour Standard inputs allowed per unit of output 5 feet 3 hours Actual: Actual price per unit of input $12 per foot $9 per hour Actual units of input 2,300 feet 1,350 hours Actual units produced was 500 units Required: Calculate the following variances and indicate whether they are favourable or unfavourable: I. Material price [2.5 marks] II. Material usage [3 marks]