Question 5 Syarikat Sejahtera uses a standard cost system and here are the standards set out to process its products: Cost for output one unit of goods ready Direct Material (RM1.80 sekilogram) RM3.60 /unit Direct Labour RM20.00/unit variable overhead RM1.20 /unit Fixed overhead (based on 10,000 units per year) RMO.80 /unit The calculation of variance uses the production unit as a base. In 2012, a total of 8,000 units were issued and the following actual costs have occurred: 1. Material 20,000 kilogram at a price of RM40,000 2. Labour 33,600 hours at a wage of RM178,080 3. variable overhead RM10,000 4. Fixed overhead RM7,200 Requested: 1) Calculate price variance and quantity/usage variance for direct material (CLO 3, C4) ii) Calculate the labour price variance and labour quantity variance for Direct Labour. (CLO 3, C4) iii) Calculate expenditure and efficiency for variable overhead (CLO 3, C4) iv) Calculate volume and budget variances for fixed overhead. (CLO 3, C4)