QUESTION 2 Dell Technologies Ltd has the following standard information for its single product: Quantity Standard Price Standard Direct labour 2.5 hours per unit $23 per hour In August, 5,000 units were produced. Actual direct labour cost was $275,000 for 11,000 direct labour hours used. Required: Calculate the direct labour price variance and direct labour efficiency variance. Show all workings. Give one possible explanation for each of the two variances you have calculated. You may utilise following formulas: DL price variance = (Standard Labour price per hour - Actual labour price per hour) x Actual hours used DL efficiency variance = [Standard hours for actual output - Actual hours for actual output) x Standard Price