ste Copy ICK HERE TO SAVE YOUR WORK A B D E F Question 2-Standard costs and overhead analysis (9 marks) 1 The direct materials standards for one bottle of Clean-All spray cleaner are given below: 2 Standard Standard Standard 3 Quantity Price Cost 4 Direct materials 8.0 mL $0.45 per ml $3.60 5. 76 During the most recent month, the following activity was recorded: 77) 25,000 millilitres of material was purchased at a cost of $0.50 per millilitre. 78) All of the material was used to produce 3,300 bottles of Clean-All. 79 30 Required 2 81 a) Compute the direct materials price and quantity variances for the month (6 marks). 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 b) Prepare a brief explanation of the possible causes of each variance (3 marks). 97 98 99 100 101 102 103 104