Q1(18 maks.) LidoCompany's standard-and actual costs per unit-for the mostrecent period, during which-400 units were actually produced, are given below:1 Standard Actual Materials: Standard: 2 metres at $1.50 per m. Actual: 2.1 metres. at $1.60 per m $3.00 $3.36 Direct labour: Standard: 1.5 hrs. at $6.00 per hr. Actual: 1.4 hrs. at $6.50 per hr. 9.00 9.10 Variable overhead Standard: 1.5 hrs. at $3.40 per hr. Actual: 1.4 hrs. at $3.10 per hr. 5.10 Total unit cost $17.10 $16.80 1.From-the above-information, compute the following variances.-Show-whether the variance is favourable (F)-or unfavourable (U)1 coccoooo a) Materials price-variance (2 marks cmoMaterials quantity-variance (2 marks)1 coormooc) Direct labour rate variance (2 marks) cG)Direct-labour efficiency-variance (2 marks) Variable-overhead spending variance (2 marks)1 cVariable overhead efficiency variance (2 marks)1 Remember to-be-sure that you have converted costs and-volumes to the correct base amounts for each of the-variance formulas which is often not units of production 2-a au-Provide a brief-explanation of the possible causes-ofeachvariance (6 marks)