Teamco Ltd manufactures products, which have a standard selling price of 250 per unit. The company operates a standard costing system and values stocks at standard cost. The standard variable cost of a NY is as follows: The budgeted and actual variable costs for last month were as follows: The actual sales and variable costs for last month were as tollows: f Calculate the following cost variances for last month: i. Direct Material Variance ii. Total Variable Production Overhead Variance iii. Direct Labour Variance