Question 3 Aduana Ltd produces and sells a special product called DAWADAWA. The standard cost of the product is as follows: GH Direct Material (3kg @ GH10) 30 Direct Labour (2hrs @ GH15) 30 Variable Overhead (2hrs @ GH5) 10 Fixed Overhead (2hrs @ GH6) 12 Total Unit cost 82 Additional information: Projected production and sales units are 5,000 and 4,500 respectively. The standard selling price is GH120. Actual performance is presented as follows: Production units 4,500 Sales @ GH125 GH4,300 Bought and used 11,250kg of Direct material GH106,875 9,000 Direct labour hours GH 126,000 Variable overheads GH 49,500 Fixed Overhead GH60,000 Required: A) Determine the following i) Material Price Variance ii) Material Usage Variance iii) Total material variance iv) Labour Rate Variance v) Labour Efficiency Variance vi) Total labour variance vii) Variable overhead expenditure variance viii) Variable overhead efficiency variance ix) Sales price variance x) Sales volume variance