Given the following data: Direct Direct Material Labor Standard $10 per foot $10 per hour Standard price per unit of input Standard inputs allowed per unit of output 5 feet 3 hours Actual: $12 per foot $9 per hour Actual price per unit of input Actual units of input Actual units produced was 500 units 2.300 feet 1.350 hours Required: Calculate the following variances and indicate whether they are favourable or unfavourable: 1. Material price [2.5 marks) II. Material usage [3 marks) III. Total material variance [2 marks) [2.5 marks) IV. Labour rate ficiency variances [3 marks] al labour variance [2 marks] ree reasons for an unfavourable price variance and state the department/manager that is nsible for such-variance. [4 marks)