Question 5 You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead of Standard Chair in the Furniture Division for New Stone Manufacturing (NSM). You have been assigned for reviewing the actual and budgeted figures of the direct labour cost for manufacturing Standard Chairs at in the Furniture Division for New Stone Manufacturing (NSM). The management at NSM argues there are no evident issues with the direct labour cost budget because the static- budget variance is often favourable, which proves the budgeting process works quite well. The management at NSM also argues the employees at the production line of Standard Chairs are always highly efficient because of the consistently favourable efficiency variances. Your analysis is for a specific month of the year, comparing the budgeted and actual figures. For the specific month of the year, each Standard Chair is budgeted to take 5 labour-hours. Budgeted hourly wage is $30. The budgeted number of Standard Chairs to be manufactured in this given month is 120. Actual direct labour costs in the given month were $15,680 for 100 Standard Chairs started and completed. There was no opening or closing stock. Actual direct manufacturing labour-hours for this given month were 490