Rodino Inc. manufactures small tents for hiking. For financial year starting on 2020 Rodino Inc. budgeted the production of 6,000 units. The costs of production are presented below. Manufacturing fixed and variable overhead is based on direct labour costs. The following are the standards for its manufacturing costs: Direct materials Direct manufacturing labour (DLH) Manufacturing overhead Variable Fixed 4.5 m of fabric at $16 per m Per unit $72 2.5 hours at $20 per hour $50 $0.6 per $ of direct labour costs $1.4 per $ of direct labour costs ? ? Budgeted fixed manufacturing overhead costs Budgeted variable manufacturing overhead costs The records for the financial year 2020 indicated the following: Direct materials purchased Direct materials used Direct manufacturing labour Total direct labour costs Actual fixed manufacturing overhead Actual variable manufacturing overhead Actual production REQUIRED (show all your workings): $420,000 $180,000 27,000 m at $15.2 per m 25,000 m 15,000 hours at $21 per hour $315,000 $410,000 $185,000 5,500 units 1. For 2020, compute the following variances, indicating whether each is favourable (F) or unfavourable (U): a. Direct materials price variance, based on USAGE (2 marks)