Willhelm Manufacturing has the following standards for one of its products: Direct materials (2 feet @ $5) $10 Direct labor (0.5 hour @ $10) During the most recent year, the following actual results were recorded: Production 6,000 units $61,100 Direct materials (11,750 feet purchased and used) Direct labor (2,900 hours) 29,580 Required (20 marks): Compute the following variances. a. Material price and usage variances. (10 marks) b. Labor rate and efficiency variances. (10 marks)