Prob 40 mark x zto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2521%252Fnewconnect.mheducation.com%252F#/activity... LE rob 40 marks i Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate c standard costs and actual costs for a recent period are given below for one of the company's product lines (per unit of product): Standard Actual Cost Cost Direct materials: Standard: 2.5 metres at $5.20 per metre $ 13 - 00 Actual: 2.9 metres at $5.00 per metre $ 14.50 Direct labour: Standard: 1.6 hours at $3.00 per hour 1.80 Actual: 1.2 hours at $3.35 per hour 4.02 Variable manufacturing overhead: Standard: 1.6 hours at $1.40 per hour 2. 24 Actual: 1.2 hours at $1.90 per hour 2.28 Fixed manufacturing overhead: Standard: 1.6 hours at $4.60 per hour 7. 36 Actual: 1.2 hours at $4.65 per hour 5. 58 Total cost per unit $ 27 .40 $ 26. 38 Actual costs: 8,000 units at $26.38 $211, 040 Standard costs: 8,000 units at $27.40 219, 200 Difference in cost-favourable $ 8, 160 During this period, the company produced 8,000 units of product. A comparison of standard and actual costs for the period on a total cost basis is also given above. There was no inventory of materials on hand to start the period. During the period, 23,200 metres of materials was purchased and used in production. The denominator level of activity for the period was 9,740 hours. Required: