Stanford Accent Association has learnt of variances in direct materials and wat labour for the month May 1967 and is seeking to ascertain the source of these variances 18. Whether it was the rest of pricing rate and/or quantity. He utilizes standard costing to assist with this exercise Standard cost details Actual cost details Material Price: $1 Total Cost $34,000 Quantity: 4 kg per unit Total Quantity: 35,000 kg Direct Labour Rate: $1.50 Total Cost $30,000 Quantity: 2 hours per unit Total Quantity 17.000 hours Production Budgeted 10,000 units Actual: 9,000 units Required: a) Compute materials price variance and materiais quantity variance b) Compute direct labour rate variance and direct labour quantity variance c) Compute the total materials and total direct labour variances