Question 4 (18 marks) Wesco Company manufactures headphone cases. During 2018, the company produced and sold 107,000 cases and recorded the following cost data: Standard Cost Information Quantity Price Direct Materials 2 parts $0.16 per part Direct Labor 0.02 hours $8.0 per hour Variable manufacturing overhead 0.02 hours $9.0 per hour Actual Cost Information Direct Materials (210,000 parts @$0.21 per part) Direct Labor (1,640 hours @$8.15 per part) Variable manufacturing overhead $44,100 $13,366 $8,000 Required: 1) Calculate the materials price variance and the materials quantity variance. (6 marks) 2) Calculate the labor rate variance and the labor efficiency variance. (6 marks) 3) Calculate the variable overhead rate variance and variable overhead efficiency variance. (6 marks)