Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. 5.1 Materials quantity variance (3 marks) 5.2 Labour rate variance (3 marks) 5.3 Labour efficiency variance (3 marks) 5.4 Variable overheads efficiency variance (3 marks) 5.5 Variable overheads expenditure variance (3 marks) 5.6 Fixed overheads volume variance (3 marks) 5.7 Sales quantity variance (2 marks) INFORMATION Lakeside Manufacturers uses a standard costing system and produces a single product. Details of the budgeted and actual data for October 2022 are as follows: Budgeted data: Standard production costs per unit: Direct materials 6 kg at a cost of R6 per kg Direct labour 4 hours at a cost of R14 per hour Variable overheads R6 per direct labour hour Fixed production overheads R360 000 Standard selling price R240 per unit Production and sales 12 000 units Actual data: Direct materials used 62 000 kg @ R5.60 per kg Direct labour 39 200 hours at a total cost of R588 000 Variable overheads R246 960 Fixed production overheads R380 000 Selling price R230 per unit Production and sales 10 000 units