Question $2$A $(6$ Marks$)$ Medex Pharmaceutical developed the following standard costs for its product in $2014$: The company planned to work $2,725$ direct labor hours and planned to produce $10,900$ units of product in $2014.$ Actual results for $2014$ are as follows: $-11,000$ units of product were produced. $-$ Actual direct materials purchased and used during the year amounted to $13,750$ pounds at a cost of $\backslash (\backslash$$ $28,875\backslash ).-$ Actual direct labor costs were $\backslash (\backslash$$ $33,320\backslash )$ for $2,800$ direct labor hours worked. $-$ Total actual manufacturing overhead incurred amounted to $\backslash (\backslash$$ $35,740\backslash ).$ Instructions Calculate the following variances showing all computations supporting your answers. Indicate if the variances are favorable $($F$)$ or unfavorable $($U$).($a$)$ Direct materials price and direct materials quantity variances. $($b$)$ Direct labor price and direct labor quantity variances. Question $2$B $(6$ marks$)$ Campbell Clothing produces men's ties. The following budgeted and actual amounts are for $2013$: Instructions: Prepare a performance budget report for Campbell Clothing for the year and comment on the results.