Q3. Beta Outdoor lighting, Inc., manufactures sculpted metal railings, lamp post and other ornaments. The following standards were developed for a line of lampposts. St. Inputs expected for each St. Price per unit of Input Unit of output achieved Direct Materials 5 pounds Rs. 10 per pound Direct Labor 5 Hours Rs. 25 per hour During April, 550 lampposts were scheduled for production. However, only 525 were actually produced. Direct materials purchased and used amounted to 2750 pounds at a unit price of Rs 8.50 per pounds. Direct labor actually paid was Rs. 26.00 per hour and 2850 hours were used. Required: 1. Compute the standard cost per lampposts for direct materials and labor 2. Compute the price variances and usage variances for direct materials and direct labor Based on these sketchy data, what clues for investigation are provided by the variances