P12-40A You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Standard Cost Card Direct materials (6 kg at $3 per kilogram) $18.00 Direct labour (0.8 hours at $5) 4.00 Variable overhead (0.8 hours at $3 per hour) 2.40 Fixed overhead (0.8 hours at $7 per hour) 5.60 $30.00 The following is a production report for the most recent period of operations: Variances Costs Total Standard Cost Price/Rate Spending/Budget Quantity/Efficiency Volume Direct materials $405,000 $6,900 F $9,000 U Direct labour 90,000 4,850 U 7,000 U Variable overhead 54,000 $1,300 F Fixed overhead 126,000 500 F $14,000 U