REQUIRED Use the information provided below to calculate the following variances. Each answer must indicate whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance (4 marks) 1.3.2 Labour rate variance (4 marks) 1.3.3 Variable manufacturing overheads efficiency variance (4 marks) INFORMATION The standard variable costs per unit (with a standard quantity of 25000 units), set by Kidman Manufacturers, for Product M are as follows: The actual costs for October 2022 are as follows: 2.1 REQUIRED Use the information given below to prepare the Income Statement of Costa Enterprises for the year ended 31 December 2022 using the absorption costing method. (10 marks) INFORMATION Costa Enterprises commenced operations on 02 January 2022, and produces a single product that sells for R72 per unit. During 2022, 300000 units of the product were manufactured of which 240000 units were sold. There was no work-in-process inventory at the end of the year. Manufacturing costs and marketing and administrative costs for 2022 were as follows