Standard Quantity or Hours Direct materials 4.3 ounces Direct labour 0.7 hour Standard Price or Rate $6 per ounce $21 per hour The company reported the following results concerning this product in March. Actual output Direct materials used in production 3,500 units 14,710 ounces 2,270 hours Actual direct labour hours Purchases of direct materials 16,700 ounces Actual price of direct material $5.80 per ounce Actual direct labour rate $21.90 per hour Required: Compute the following variances: A. Materials price B. Materials usage C. Total material D. Labour rate E. Labour efficiency F. Total labour [2.5 marks] [3 marks] [1.5 marks] [2.5 marks] [3 marks] https://www.bing.com/ck/a