QUESTION $5(20$ MARKS$)$REQUIREDUse the information provided below to calculate the following variances. In each case state whether the varianceis favourable or unfavourable$\mathrm{.}5\mathrm{.}1$ Materials quantity variance $5\mathrm{.}2$ Labour rate variance $5\mathrm{.}3$ Labour efficiency variance $5\mathrm{.}4$ Variable overheads efficiency variance $5\mathrm{.}5$ Variable overheads expenditure variance $5\mathrm{.}6$ Fixed overheads volume variance $5\mathrm{.}7$ Sales price variance INFORMATION$(3$ marks$)(3$ marks$)(3$ marks$)(3$ marks$)(3$ marks$)(3$ marks$)(2$ marks$)$Hisense Manufacturers uses a standard costing system and produces a single product. Details of the budgetedand actual data for May $2025$ are as follows:Budgeted data:Standard production costs per unit:Direct materials $8$ kg at a cost of R$12$ per kgDirect labour $4$ hours at a cost of R$80$ per unitVariable overheads R$6$ per direct labour hourFixed manufacturing overheads R$400000$Standard selling price R$210$ per unitProduction and sales $25000$ unitsActual data:Direct materials used $170000$ kg at R$13$ per kgDirect labour $90000$ hours at R$19$ per hourVariable overheads R$558000$Fixed manufacturing overheads R$420000$Selling price R$200$ per unitProduction and sales $22000$ units