Standard: 4.0 meters at $5.40 per meter Actual: 4.4 meters at $5.05 per meter Standard: 1.6 hours at $6.75 per hour Actual: 1.4 hours at $7.30 per hour During this period, the company produced 4,800 units of the product. At the beginning of the period, no inventory of materials was on hand. During the period, 21,120 meters of materials were purchased, all of which were used in production. A. For direct materials, compute the price and quantity variances for the period. B. For direct labour, compute the rate and efficiency variances for the period. C. Provide a reasonable explanation for the direct labour efficiency variance