The following information has been extracted from the records of Dumbarton Ltd for the month of October 2021: Standard cost card: IR Materials 156.00 Direct labour 80.00 4 metres @ R14 per metre 8 hours @ R10 per hour 8 hours @R8 per hour 8 hours @R12 per hour 64.00 Variable overheads Fixed overheads Standard cost per unit 96.00 296.00 Actual results for the period are as follows: Units produced and sold Direct materials (40 000 metres at R13.70 per metre) Direct labour (84 000 hours at R10 per hour) Variable overheads 11 000 units R548 000 R840 000 R756 000 Fixed overheads R1 000 000 Budgeted fixed overheads for the period is R960 000. Required: Fill in the table. Your answer must indicate whether the variance is Favourable (F) or Unfavourable (U) Example 1. 10000(F) { No spaces, No Rand sign and F is capital F} 2.50000(U) (No spaces, No Rand sign and U is capital U} Calculate the following variances: 1. Material price variance 2. Material usage variance 3. Direct labour rate variance 4. Direct labour efficiency variance 5. Variable overhead rate variance 6. Variable overhead efficiency variance 7. Fixed overhead expenditure variance 1. Material price variance 2. Material usage variance 3. Direct labour rate variance 4. Direct labour efficiency variance Variable overhead rate variance 5. . 6. Variable overhead efficiency variance 17. Fixed overhead expenditure variance