Part 1 Toyoto Ltd is a vehicle manufacturer. For October, Toyoto Ltd has the following standards for one of its new products, a surf-kit: Standards per surf-kit Direct materials 2 kilograms of input at $10 per kilogram Direct manufacturing labour 0.5 hour of input at $15 per hour The following data were compiled regarding actual performance: Actual output units produced 1800 Kilograms of input purchased and used 3870 Price per kilogram $10.35 Direct manufacturing labour costs $13,530 Actual hours of input were 820 Required: a) Calculate price variance and efficiency variance for direct materials and direct manufacturing labour. Give ONE (1) possible explanation of why each variance occurred. (16 marks)