z Fred's Fire Solutions manufacture re extinguishers. The following data relates to one of the 3 lines in its product range during the most recent period. The rm uses standard costing and 4 uses direct labour hours to allocate overhead. 5 5 The company policy is to record material price variances at the time materials are purchased. 7 8 9 Budget (standard cost) data 10 Budget number of units produced 400 units 11 Direct materials 2 kgs @ $46 per kg 12 Direct labour 2 hour @ $45 per hour 13 Variable overhead $ 36,000 1, Fixed overhead 3 12,000 15 15 Actual data 17 Units produced in the period 390 units 13 Direct materials purchased in the period 900 kgs totalling of $38,700 19 Direct materials used in the period 875 kgs 20 Direct labour hours worked 860 DL hours totalling $36,980 21 Variable overhead incurred $ 37,500 Fixed overhead incurred $ 12,500 22