SB Ltd is producing and selling school bag in NSW. In January 2022, SB Ltd had the cost data follows: Direct materials Direct labour Standard per unit board 2 kilograms of direct material at $10.20 per kilogram 0.5 hour of direct labour hour at $16.00 per hour At the end of 2022 the actual performance indicating the following: Actual production: 1 850 units Direct materials purchased and used 3 850 kilograms at purchase price of $10.50 per kilogram Direct labour costs $16 150 with actual hours used 950 hours (b) (c) (d) (e) (f) Required (show your workings): (a) Calculate the favourable or unfavourable price variance for direct materials Calculate the favourable or unfavourable efficiency variance for direct materials Calculate the favourable or unfavourable flexible budget variance for direct materials Calculate favourable or unfavourable price variance for direct labour Calculate the favourable or unfavourable efficiency variance for direct labour Calculate the favourable or unfavourable flexible budget variance for direct labour (3 marks) (3 marks) (3 marks) (3 marks) (3 marks) (3 marks)