O 6/7 answered Time Remaining: 36m 34s Hide ly save as you proceed through the test. Question 5 Required: For the purpose of preparing the monthly performance report for the last month, calculate the following eight cost variances: (i) Direct material price variance (DMPV) (ii) Direct material quantity variance (DMQV) (iii) Direct labour rate variance (DLRV) (iv) Direct labour efficiency variance (DLEV) (v) Variable overhead spending variance (VOHSV) (vi) Variable overhead efficiency variance (VOHEV) (vii) Fixed overhead budget variance (FOHBV) (viii) Fixed overhead volume variance (FOHW) (2.5 marks each x 8 variances = 20 marks) H =B IA X X 23 > 66 x