Part B Raisin Manufacturing Sdn. Bhd. developed the following standard costs for its product for 2020: Raisin Manufacturing Sdn. Bhd. Standard Cost Card Cost Elements Standard Quantity Standard Price Standard Cost Direct materials 4 pounds RM 5 RM20 Direct labor 2 hours 10 20 Variable overhead 2 hours 4 8 Fixed overhead 2 hours 2 4 RM52 The company expected to work at the 120.000 direct labor hours level of activity and produce 60,000 units of product. Actual results for 2020 were as follows: 56,800 units of product were actually produced. Direct labor costs were RM1,092,000 for 112,000 direct labor hours actually worked. Continued... Actual direct materials purchased and used during the year cost RM1,108,800 for 231,000 pounds. Total actual manufacturing overhead costs were RM680,000. Required: Compute the following variances and indicates whether the variance is favorable or unfavorable: Direct Material Price (b) Direct Material Quantity (c) Direct Labor price (d) Direct Labor Quantity (e) Total Overhead Variance (15 marks) (Total: 25 marks) End of Page