Part II (2 problems) Please show your computations to receive full credit. 410 Basil Tooling uses a standard cost system to account for the costs of its one product. Standards are4 sheets of steel at $110 per sheet andh'4 hours of labor at a standard wage rate of $13!During July Basil Tooling produced 600 units. Materials purchased and used totaled 2,540 sheets at a total cost of $268,850. Payroll totaled $112,930 for 8,770 hours worked. Calculate the following variances: (30 points) 1. a. direct materials price variance G(10 (06) lo b. direct materials quantity variance 213,oo(fo c. direct labor rate variance oPo d. direct labor efficiency variance 600x14 4810