Rip Tide Company manufactures a single product - sail boards. The standard cost care for the is: Quantity Price Costhnit Direct Materials 5 m $1.40 per m $7.00 Directed Labour 1 hr $6.75 per hr $6.75 Variable manufacturing overhead 1 hr $4.50 per hr $4.50 Total cost per unit $18.25 During the month of October, 5,000 units were produced. Selected cost data relating to the month's production follow: Quantity Price Cost Materials Purchase 50,000 m $1.30 er m $65,000 Materials used in production 33,000 m I .| Direct labour $41,925 Variable manufacturing overhead $3 0,713 Variable overhead efficiency (quantity) variance $2,075 Unfavourable There was no beginning inventory of raw materials. The variable overhead rate is based on direct labour-hours