PART FIVE $(20$ POINTS$)$ Label all work and show all calculations.Ducker Company has developed the following standard costs for its product for $2010$:Product ACost ElementDirect materialsDirect laborVariable overheadStandard Quantity$5$ pounds$4$ hours$4$ direct labor hoursStandard PricelRato$ $15\mathrm{.}00/1$b$$20\mathrm{.}00/$hr$ $8\mathrm{.}00/$lhActual results for $2010$ are as follows:$2,200$ units of Product A were produced.Actual direct labor costs were $$167,700$ for $8,600$ hours worked at $$19\mathrm{.}50$ per hour.Actual direct materials purchased and used during the year cost $$189,000$ for $12,000$ pounds.Actual variable overhead incurred was $$70,520.$RequiredCompute the following variances showing all computations to support your answers.I. Materials price variance.II$.$ Materials usage variance.IlI. Direct labor rate variance.IV$.$ Direct labor efficiency variance.V$.$ Variable overhead efficiency variance.