Question 2: The following information for 2017 was given for the Ken-Glo Company, which manufactures light bulbs Units of finished goods Actual DM price per unit produced 15,000 units Rs. 1.10 cach Direct material quantity 3 units of DM per Direct labor Efficiency 2 Direct labor standards unit of Finished Standard hours per unit good Direct material used in Actual DL hours worked production 50,000 units 30.250 hours Direct material purchased 60,000 units DL standard Wage Rate Rs. 4.20 per hour Direct material standard price per unit Rs.1.25 each DL actual wage rate Rs. 4.50 per hour Instructions: Calculate the following variances a. Direct Material Price Variance c. Direct Labor Efficiency Variance b. Direct Material Efficiency Variance d. Direct Labor Price Variance (8 Marks)