QUESTION 7 (21 marks) HD1 IS EASY FACTORY uses a standard costing system and the standard cost per unit is as follows: Direct Material (1 liter at RM1 per liter) Direct Labor (2 direct labor hours at RM2.50 per hour) Variable Overhead (3 machine hours at RMRM0.70 per machine hour RM1.00 RM5.00 RM2.10 Actual production in 2019 were 5,200 units. Actual production cost was: Direct Material purchased and used 5,150 liters amounting to RM5,665 Direct Labors worked 10,200 direct labors hours and paid for RM27,540 Variable Overhead incurred RM11,775 Actual machine hour used in production were 15,500 hours It allocates its overhead on the basis on machine hours. Required: a. Direct material price variance, quantity variance and total direct material variance b. Direct labor rate variance, efficiency variance and total direct labor variance c. Variable overhead spending variance, efficiency variance and total variable overhead variance (15 marks) d. Comment discuss on material and labor variances computed above. (6 marks)