Standard Costing and Variance Analysis

The Whisky Brothers' Melbourne distillery produces hand-crafted gin. The firm's standard costs for its lemon-myrtle infused line includes the following for January 2023:

	Standard Amount per bottle	Standard Price per bottle
Direct Material (lemon myrtle)	31 grams (per bottle)	$115 per kg
Direct Labour	5.5 minutes (per bottle)	$38.00 (per hr)

During January 2023:

• 2,600 bottles were produced.
• The actual direct labour hours worked was 236 hours at a cost of $8,944 to the firm.
• 83 kgs of lemon myrtle was purchased and used to meet production requirements and the cost of this material was $9,711.

1. Use Excel to calculate the:
   1. Direct Material Price (Rate) variance,
   2. Direct Material Quantity (Usage/Efficiency) variance, and
   3. Total Direct Material variance for the month of December.
2. Use Excel to calculate the:
   1. Direct Labour Price (Rate) variance,
   2. Direct Labour Efficiency variance, and
   3. Total Direct Labour variance for the month of December.