QUESTION 3 You are presented with the following information for Busra Bhd.: Direct material: Standard price per unit RM50 Standard quantity for actual production 5 units Actual price per unit RM52 Actual quantity 6 units Direct labour: Actual hours 10,000 Actual wage rate per hour RM6.50 Standard hours for actual production 9,000 Standard wage rate per hour RM6 a) You are required to calculate: i. Total material variance ii. Material price variance iii. Material quantity variance iv. Total labour variance v. Labour price variance vi. Labour quantity variance (16 marks) b) Give ONE reason for each of the favourable or unfavourable variance for items (ii), (iii), (v) and (vi) above. (4 marks) TOTAL: 20 MARKS