Super Company is a manufacturing company that produces a special grinding machine called BestGrind. The company budgets to produce and sell 20,000 units of BestGrind in a period. The standard information is provided below. Standard Cost Card for product BestGrind RM RM Direct materials: 3.0kg of Mat RM1.50 per kg 1.5kg of N at RM4.50 per kg 4.50 6.75 11.25 16.00 12.00 39.25 Direct labour (4 hours at RM4 per hour) Variable overheads (4 hours at RM3 per direct labour hour) Standard variable cost Fixed overheads (4 hours at RM6 per direct labour hour) Total standard cost Standard profit Standard selling price 24.00 63.25 16.75 80.00 The actual results for April are: RM RM 1,558,000 Sales (19,000 units at RM82) Direct materials: M: 55,000kg at RM1.25 per kg 68,750 N: 32,000kg at RM4.25 per kg 136,000 Direct labour (92,000 hours at RM3.50 per hour) 322,000 Variable overheads (92,000 hours at RM2.75 per hour) 253,000 779,750 Contribution Fixed overheads Profit 778,250 420,000 358,250 During the period, 19,000 units of BestGrind were produced and sold. Required: a) Calculate the following variances: i. Material price variance ii. Material usage variance iii. Direct labour rate variance iv. Direct labour efficiency variance Variable overhead expenditure variances vi. Variable overhead efficiency variances vii. Fixed production overhead expenditure variances viii. Fixed production overhead volume variance ix. Sales margin price variance Sales margin volume variance for absorption and variable costing system V. X