please do it in detail

QUESTIONS Nura Precision Sdn. Bhd. produces a single product which uses a standard costing system to control its costs. The standard and actual costs data to produce one unit of the product for February 2021 is as given: STANDARD ACTUAL Direct Materials 4.0kg at RM7.20 per kg RM28.80 4.4kg at RM6.70 per kg RM29.48 Direct Labour 1.6 hours at RM9.00 per hour RM14.40 1.4 hours at RM9.70 per hour RM13.58 Variable Manufacturing Overhead 1.6 hours at RM3.60 per hour RM5.76 1.4 hours at RM4.30 per hour RM6.02 Total cost per unit RM48.96 RM49.08 During February 4,800 units of product were produced. The comparison of standard and actual cost on the basis of total cost is given below: Actual cost (4.800 units x RM49.08) RM235,584 Standard cost (4.800 units x RM48.96) RM235,008 The company purchased 21,120 kilograms of materials from its vendors in February. There was no inventory of materials in stock at the start and at the end of month. Required: a) Calculate the following variances: (i) Material price variance (2 marks) Material quantity variance (2 marks) (iii) Labour price variance (2 marks) (iv) Labour quantity variance (2 marks) b) Using the standard cost accounting system, journalise the following variances: (1) Material price variance (3 marks) Material quantity variance (3 marks) (iii) Labour price variance (3 marks) (iv) Labour quantity variance (3 marks) TOTAL 20 MARKS