G Direct Materials Variable Manufacturing Overhead Direct Labour Fixed Overhead Quantity Required for One Monitor 3.0 kg 3.0 hours 2.0 hours 1.5 hours Standard Rate/Price $ 12.00 per kg $ 6.00 per hour $ 18.00 per hour $ 9.00 per hour Overhead is allocated based on direct labour hours and the average production volume of 20,000 heart monitors. This currently utilizes 90% of the maximum capacity. e Below is information related to the February 2022 production, in which 21,000 monitors were produced: Direct Materials purchased 5 Direct materials used - Direct Labour 3 Variable Overhead Fixed Overhead Quantity 70,000 68,000 39,000 Cost $ 860,000 $ 835,040 $ 690,000 $ 200,000 $ 125,000 REQUIRED A) Calculate the standard quantity of materials needed to make 21,000 monitors (1 mark) B) Calculate the standard quantity of labour-hours needed to make 21,000 monitors (1 mark) C) Calculate the Direct Materials Price Variance (2 marks) D) Calculate the Direct Materials Quantity Variance (2 marks) - E) Calculate the Direct Labour Efficiency Variance (2 marks) F) Calculate the Variable Overhead Spending Variance (2 marks)