Question 2 (10 marks) During October 2013, Kent Ltd's material purchases amounted to 6 000 kilograms at a price of $7.40/kg Actual costs incurred in the production of 2 000 units were as follows Direct material S 31 080 $7.40/kg Direct labour 118 035 $18.30/hour The standards for one unit of Kent Ltd's product are as follows. Direct material Direct labour Quantity: 2 kg/unit Quantity: 3.5 hours/unit Price: $7.20/kg Rate: $18/hour Required: Calculate the following variances and indicate whether each variance is favourable or unfavourable: (a) Direct material price variance; (2 marks) (b) Direct material usage variances; (2 marks) (c) Direct labour rate variance; (3 marks) (d) Direct labour efficiency variance