From the foregoing information, compute the following variances and indicate whether they are favorable (F) or unfavorable (U). State why each of the variances occurred.Material price variance and Material usage varianceDirect labour rate variance and Direct labour efficiency varianceVariable overhead spending variance and Variable overhead efficiency variance Kokolat Sdn. Bhd. is a manufacturer of premium cocoa beans. Kokolat budgeted 20,000 bottles tobe produced per month. The standards below have been established for its variable costs ofproduction.Premium cocoa beansStandard cost per unit(RM)Direct material(6 kgs at RM4 per kg)Direct labour(1 hour at RM7 per hour)Variable production overhead(1 direct labour hour at RM3)247334In July, 18,500 bottles were produced. A total of 113, 500 kgs for the costs of RM442,650 of directmaterials were purchased and used. The direct labour costed RM129,940 for a total of 17,800direct labour hours worked. Actual variable production overhead costs incurred was RM58,800.

Name: From the foregoing information, compute the following variances and in
Uploaded: 2024-03-20T06:33:06.000Z
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Description: From the foregoing information, compute the following variances and indicate whether they are favorable (F) or unfavorable (U). State why each of the variances occurred.Material price variance and Material usage varianceDirect labour rate variance an