Q2- Variances Ahmadi manufacturers phones accessories. During January 2020, the company recorded the following data: Standard Cost Information Total Quantity 40,000 Parts Cost per unit ($) $ 2.00 per part Direct Materials Direct Labor 22,000 Hours $ 9.00 per hour Actual Information Total Quantity 35,000 parts Total Cost $ 77,000 Direct Materials Direct Labor 18,500 hours $ 157,250 Requirements: 1- Compute direct material's cost and efficiency variance. 2- Compute direct labor's cost and efficiency variance