Required: {Ensure that all calculations are clearly labelled and any reference for favourable (F) or unfavourable (U) is clearly indicated.} 1.) Compute the direct labour rate variance and efficiency variance for 2020. (6 marks) 2.) Compute the direct materials price variance and quantity variance for 2020. (6 marks) 3.) Compute the 2020 sales price variance and the sales-volume variance for revenue. (4 marks) MACKMO LTD. manufactures skateboards. The Static-Budget was prepared in advance of the 2020 operating year and it was based on an initial forecast that 4,200 skateboards would be sold and therefore produced. For 2020, the budgeted selling price for one skateboard was $125. It was established for 2020 that standard inputs for the production of one skateboard require 5 kilograms of direct material and 1.2 direct labour hours. Standard prices/rates for these cost inputs have been established at $10 per hour of direct labour and $13 per kilogram for direct material. Lastly, the denominator level of activity for direct labour (DL) hours is 5,040 hours. For 2020, MACKMO LTD. actually produced and sold 4,500 skateboards and the actual selling price for these skateboards was $120 per skateboard. This level of production required the use of 5,900 hours of direct labour and 21,500 kilograms of direct materials. The average supplier invoice price for materials purchased and used during 2020 amounted to $13.50 per kilogram of material. The payroll records for 2020 reveal that direct labour employees were actually paid a wage rate of $9.50 per hour. All manufacturing overhead is applied on the basis of direct labour hours. Prior to beginning the 2020 operating year, the following pre-determined manufacturing overhead allocation rates were calculated and taped to the wall: $8 per DL hour for VMOH, and $12 per DL hour for FMOH. These rates were based on total budgeted FMOH cost of $60,480 and total budgeted VMOH costs of $40,320 for 2020. Total actual manufacturing overhead costs incurred in 2020 was $58,000 in fixed overhead (FMOH), and $44,500 in variable overhead (VMOH)