Part 2 (8 marks) Jax corporation uses a standard costing system to understand why there is consistent cost overruns related to its manufacturing activity. You have been provided the following data. - Material purchased and used, 3,300 kilograms - Direct labour cost incurred, 5,500 hours, cost $42,350 - Finished units produced, 1000 - Actual Material cost $0.97 per kilogram - Standard direct labour cost, \$8 per hour - Standard material cost, \$1 per kilogram - Standard kilograms of material in a finished unit, 3kg - Standard direct-labour hours in finish unit, 5 labour hours Required 1. Direct Material Price Variance 2. Direct Material Usage Variance 3. Direct Material Total Variance 4. Direct Labour Rate Variance 5. Direct Labour Efficiency Variance 6. Direct Labour Total Variance Indicate whether each is a Favourable (F) or Unfavourable variance (U)