Question 26 (18 points) Paulson Corporation manufactures tablecloths, which is its only product. The standards for tablecloths based on 500 tablecloths are as follows: Standard direct materials cost per meter $11 Standard direct materials quantity per tablecloth meters) Standard direct labour cost per hour $15 Standard direct labour hours per tablecloth 1.5 Variable overhead per labour hour 53 Fixed overhead per labour hour $20 Budgeted total $15,000) During the month of September, the company produced 1,000 tablecloths. Related production data for the month follows: Actual meters of direct material purchased and used Actual direct materials total cost Actual direct labour hours Actual direct labour total cost incurred Actual variable overhead Actual fixed overhead 2.200 $22.880 2,100 $29.400 56.000 516,000 Required: For the month compute A Direct materials price and materials usage variances (5 marks) B. Direct labour rate and efficiency variances (5 marks) C Direct variable overhead spending and efficiency variances. (4 marks) D Explain why materials price and materials usage variances occurred. Do not just state the price or the quantity increased. (4 marks)