REQUIRED Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance 1.3.2 Labour efficiency variance 1.3.3 Variable manufacturing overheads expenditure variance INFORMATION Regal Ltd uses the standard costing system. The standards and actual information for May 2022 for the only product that it manufactures are as follows