Question: You have been given the following per unit information about the production of Thomas Ltd., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Standard Standard Actual Actual Quantity Price Quantity Price Direct materials 4 kg | $2.80 / kg 4.5 kg $2.50 / kg Production data, both budgeted and actual, for the year are as follows: Description Amount Actual production (units) 42,000 Actual materials purchased and used (kg) 189,000 Required: Calculate the direct material price and usage (also called efficiency) variances and use your solution to answer the following questions. NOTE: Please enter all variances as positive numbers. The amount of the direct material price variance is $ A Indicate if the direct material price variance is favourable (enter the letter F) or unfavourable (enter the letters UF). A/ The amount of the direct material usage variance (also called efficiency variance) is $ A/ Indicate if the direct material usage variance is favourable (enter the letter F) or unfavourable (enter the letters UF).