Question $3($Marks: $15)$Leclerc Ltd needs assistance in assessing their actual results for the period ending November $2023.$ The company uses a standard costing system in the manufacturing of its products.The following budgeted standard costs per unit were recorded:Direct material $(12$kg per unit$)$R$43\mathrm{.}20$

Direct labour $(4$ hours per unit$)$R$112$Variable overheads $(4$ hours per unit$)$R$6$ per hour

Fixed overheadsR$28950$Variable overheads are allocated based on labour hours.The budgeted production in units is $3800.$

$4600$ units were actually produced with the following information:

Direct material purchased

$48000$

kg $$

R$3\mathrm{.}75$ per kg

Direct material issued

$46000$ kg

Direct labour hours worked.

$15000$ hrs

R$27$ per hr

Variable overheads

R$96000$

Fixed overheads

R$30000$

Calculate the following variances, clearly indicating if they are favourable or unfavourable.

Show all formulas and workings, as marks will be awarded for it$.$

Q$\mathrm{.}3\mathrm{.}1\mathrm{.}1$

Material purchase price variance

$(4)$

Q$\mathrm{.}3\mathrm{.}1\mathrm{.}2$

Labour usage variance

$(4)$

Q$\mathrm{.}3\mathrm{.}1\mathrm{.}3$

Variable overhead expenditure variance

$(3)$

Q$\mathrm{.}3\mathrm{.}1\mathrm{.}4$

Fixed overhead $(2)$