Please note the Currency is in South African Rands not Rupees.

Please use the information to prepare Material issue price variance

Direct Labour Rate Variance

Variable Overheads Expenditure Variance

Variable Overheads Efficiency Variance

Fixee Overheads Volume Variance

INFORMATION Katarina (Pty) Lid (Katarina) is a company which manufactures fumiture. The company uses standard costing system. The following is the budget for the month of January 2022 for 25000 units. During January 2022 the company started and completed 26000 units and the following transactions were recorded: Purchases of material: 43000 metres at R6.35 per metre Material issues: 44000 metres Direct wages paid: 22000 hours at R9.35 per hour Manufacturing overheads incurred: Variable R43 500 Fixed: R152000 REQUIRED Use the information given above to calculate the following variances and, in each case, provide a possible reason for the variance: Each answer must indicate whether the variance is favourable (F) or unfavourable (U). Material issue price variance ( 4 marks) Direct labour rate variance ( 4 marks) Direct labour efficiency variance ( 4 marks) Variable overheads expenditure variance (4 marks) Variable overheads efficiency variance (4 marks) Fixed overheads volume variance. ( 5 marks)