QUESTION 4 Use the information provided below to calculate the following variances: Raw material usage variance Direct labour rate variance Direct labour efficiency variance Variable overheads efficiency variance. Note: Indicate whether each variance is favourable or unfavourable. INFORMATION The standards and actual information for product Zin produced by ABC Ltd are as follows: Standards: Material J Labour Variable overheads Normal production 4 kg @ $5 per kg 3 hours @ $30 per hour $11 per labour hour 10 000 units per month Actual information for October 2017: Material J used Labour Variable overheads Production 37 800 kg @ a total cost of $187 110 26 100 hours @ $31 per hour $12 per labour hour 9 000 units