The actual production for Novarex Ltd for the month of Feb was 75,000 units. The standard quantity of direct materials for the product is 4 kg per unit. Every unit of the product requires the standard direct labour hours of 3 hours per unit. The company's standard cost records revealed that the standard price of materials was $2.70 per kg and the standard labour rate was $19.00 per labour hour. The following information relates to the month of Feb : Actual direct materials (purchased and used) Actual hours worked 330,000 kg 210,000 labour hours According to the purchasing manager, the actual purchase price of the materials was $2.30 per kg. The company's actual wage rate for the period was $21.00 per labour hour. The company's actual variable overhead cost for the month amounted to $900,000 and the actual total machine hours for the period was 160,000 machine hours. The company allocates overhead on the basis of machine hours. The standard machine hour for 1 unit of the product is 2 machine hours, whilst the variable overhead rate is $5.50 per machine hour. Required: (a) Calculate the following variances : (i) All necessary direct material variances (ii) All necessary direct labour variances (iii) All necessary variable overhead variances (b) Comment and discuss on all variances computed above