Need 100 % correct other wise downvoted

2010 - June [5] B. Ltd. started trading on 1st November 2008, manufacturing and selling one product. The standard cost per unit was : Direct material: Standard price 10 per kilogram Standard quantity: 20 kilogram per unit Direct labour: Standard rate of pay 5.50 per hour Standard time allowance: 12 hours per unit Production overhead costs, all classified as fixed, were budgeted at * 9,00,000 per annum. The standard time for producing one unit is 12 machine hours and normal capacity is 60,000 machine hours per annum. Production overhead is absorbed on machine hours. For the year ended 31st October 2009, the costs incurred and other relevant information is given below: Direct material used -1,00,000 kilograms at a cost of * 10,50,000 Direct wages paid - 3,10,000 for 62,000 hours Production overhead -9,26,000 Machine capacity used - 60,000 hours Actual output -4,800 units Assuming no stocks of work-in-progress or finished goods at year end. You are required to: (a) Show the standard product cost for one unit. (b) Calculate variances for material (usage and price), labour (rate and efficiency) and overhead. (5 + 10 = 15 marks)