Q4. Antonio plc makes product X, the standard costs of which are: Sales revenue Direct labour(2hour) Direct material(1kg) Fixed overheads Standard profit 31 (10) 13) Q4 Antonio plc (cont'd) The budgeted output for March was 1,000 units of product X; the actual output was 1,100 units, which was sold for 34,950. There were no inventories at the start or end of month The actual production costs were Direct labour (2,150 hours) Direct materials (1,170 kg) Fixed overheads 12,210 11,630 3,200 Required (a) Calculate the following variances for March from the available information 1) Sales vaiances (volume and price) 2) Direct labour variances (efficiency and rate) 3) Direct material variances (usage and price) 4) Fixed overhead variance (b) dentily and explain the possible causes of labour rate and efficiency variances