Straighter Company assembles steel housings for trucks. The housing consists of a pan and four lug units. The standard cost card for the housing is as follows: Material Pan (1 @ $30) $ 30.00 Lug unit (4 @ $5) 20.00 Labour (3 hours @ $10) 30.00 Variable overhead (4 machine-hours @ $2) 8.00 Total standard cost per unit $ 88.00 During March, actual production was 90 units. Normal production volume is 100 units. Actual data on the use of inputs is as follows: Material Purchases 100 pans @ $32 450 lug units @ $4.80 Issued to assembly 94 pans and 384 lug units Labour 100 hours @ $9 200 hours @ $11 $ 3,200 $ 2,160 Actual machine-hours used was 400 hours and variable overhead incurred was $400. REQUIRED: SHOW YOUR WORK OPPOSITE FOR PART MARKS Place your answers in the spaces provided here. Actual machine-hours used was 400 hours and variable overhead incurred was $400. REQUIRED: SHOW YOUR WORK OPPOSITE FOR PART MARKS Place your answers in the spaces provided here. 2 a. Calculate the materials price variance for the pans. 2 b. Calculate the materials efficiency variance for the lug units. 2 c. Calculate the variable overhead efficiency variance. 2 d. Calculate the direct labour price variance. 2 e. Calculate the direct labour efficiency variance. 2 f. Briefly explain how efficient or inefficient the use of the machine-hours has been