Ryan is comparing budget and actual data for the last three months. The budget was prepared on the basis of 95,000 units produced and sold, but actual production and sales for the three-month period were 90,000 units. Ryan uses standard costing and absorbs fixed production overheads on a machine hour basis. A total of 28,500 standard machine hours were budgeted. A total of 27,200 machine hours were actually used in the three-month period. REQUIRED: Explain the following variances with possible calculations: i.ii.iii.iv.v.Rawmaterialtotalcostvariance.Directlabourtotalcostvariance.Fixedoverheadefficiencyvariance.Fixedoverheadcapacityvariance.Fixedoverheadexpenditurevariance.(5marks)(5marks)(5marks)(5marks)(5marks)