A Q.3 The following labout and variable overhead standards have been established for a particular product: Please note that variable overhead is applied on the basis of direct labour hours DIRECT LABOUR Standard labour hours per unit of output Standard labour rate Variable Overhead rate $5.25 pei DLH 8.3 hos $12.15 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output MOH-VC Actual: $4.80 per DLH Actual Variable OH Cost: $29,280 Actual Fixed OH: $15,250 Budgeted Fixed OH: $12,500 Applied Fixed QH:$13,750 6,100 hours $71 320 900 unit a) What were the labour variances for the month? Clearly indicate whether they were Eavourable (F), or, Unfavourable (U) 17 marks] Input DL AHXAR Output STD AH SR SHSR 54 95 MacBook Pro A 6 R T Y F V G B 49 H U .0 8 9 N 1 J K M tes) 10 11 b) What were the Variable Overhead variances for the month? Clearly indicate whether they were Favourable (F), or, Unfavourable (U) [5 marks] Input: MOH-VC AH x AR [5 marks] Fixed OH: Actual I STD: AH x SR SH x SR Output: Budget Applied 10 Fow