Q.1 The standard quantity and standard price of material to produce Product P' are as follows: Standard Quantity: 100 kgs Actual Quantity: 120 kgs Standard Price: AED 20/ kg Actual Price: AED 30/kg Calculate: a. Material Cost Variance b. Material Price Variance c. Material Usage Variance Q.2. The standard time and standard rate of labor to produce Product P are as follows: Standard Time: 80 hrs Actual Time: 90 hrs Standard Rate: AED 40/hr Actual Rate: AED 44/hr Idle Time - 4 hours Calculate: a. Labour Cost Variance c. Labour Efficiency Variance b. Labour Rate Variance d.Idle Time Variance