Standards for December Factory Output Wholesale Selling Price: 40.00 per pair Production and Sales: 150,000 pairs Materials: Waterproof Fabric: 0.5 metres per pair at 25.00 per metre Treated Rubber: 0.25 metres per pair at 30.00 per metre Labour Cutting Department: 2 hours per 100 pairs at 2.80 per hour Sewing Department: 1.5 hours per 100 pairs at 3.30 per hour Finishing Department: 1 hour per 100 pairs at 3.00 per hour Fixed overheads for December had been estimated to be 21.250000. of which 2750.000 were fixed production overheads and 500,000 were administration and distribution costs. In line with the wishes of Samuel Lee. fixed production overheads are not currently absorbed into the product costs. Actual Data for December Factory lilliutput Wholesale Selling Price: 45.00 per pair Production and Sales: 136.000 pairs Materials Waterproof Fabric: 61,200 metres costing 1,T13.600 Treated Rubber: 31.280 metres costing 907.120 Labour Cutting Department: 2.040 hours at 2.40 per hour Sewing Department: 2.040 hours at 3.10 per hour Finishing Department: 2.040 hours at 2.50 per hour Fixed Overhead: Production lil'rverheads: 700.000 Administration and Distribution: 500,000 a) Prepare a flexed standard costing prot statement and an actual prot statement for December. b) Calculate the following variances for December: i. direct material price and usage variances for waterproof material and treated rubber; ii. direct labour and efficiency variances for the Cutting, Sewing and Finishing Departments