Question 2: Standard Costing Jones Jimmy Company produces a single product - a jumping jack. Variable manufacturing overhead is applied to products on the basis of direct labour-hours. The standard costs for one unit of product are as follows: Direct Material: 10 kilograms S2.80 per kilogram Direct Labour: 2.5 hours at $40.00 per hour Variable Manufacturing Overhead: 1.5 hours at $18.00 per hour Total Standard Variable Cost Per Unit $28.00 S100.00 $27.00 $155.00 During the month, 9,700 units were produced. The costs associated with March's operations were as follows: $283,200.00 Direct Material: 96,000 kilograms $2.95 per kilogram Material Used in Production: 98,000 kilograms Direct Labour: 26,000 hours at $42.50 per hour Variable Manufacturing Overhead $1,105,000.00 $256,900.00 Required: (1) Compute all the key variances for direct materials, direct labour, and variable manufacturing