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Please help with this OnStage Productions Limited produces sets, props and other equipment used in the movie and TV industry. They recently completed an order

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OnStage Productions Limited produces sets, props and other equipment used in the movie and TV industry. They recently completed an order for props to be used in the latest James Bond movie. They use a standard costing system to control their costs. Per the standard costs determined for their projects, the company should incur 780 direct labour hours in their production factory each month, which would produce 1,950 props. The standard costs associated with this level of production are as follows: Per Unit Total of Product Direct Materials 35,490 18.20 Direct Labour $ 7,020 3.60 Variable Manufacturing Overhead (1) 2,340 1.20 Fixed Manufacturing Overhead (1) 4,680 12.40 $ 25.40 (1) Applied based on direct labour hours. During the month of March, the factory employees worked a total of 760 direct labour hours and produced 2,XXX props. Actual costs incurred during the month were as follows: Total Per Unit of Product Direct Materials (6,000 pounds) $ 36,000 18.00 Direct Labour 7,600 3.80 Variable Manufacturing Overhead 3,800 1.90 Fixed Manufacturing Overhead 4,600 2.30 $ 26.00 Per the standard costs determined for their projects, each prop requires 2.8 pounds of direct materials. All direct materials purchased during the month of March were used in the production process. REQUIRED: Compute the following variances for the month of March: 1 . The direct materials price and quantity variances. 2 . The direct labour rate and efficiency variances. 3 . The variable overhead spending and efficiency variances. 4. The fixed manufacturing overhead budget and volume variances

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