Question A5 Malcolm Reynolds Ltd makes and sells a single product, Product Q, with the following standard specification

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Question A5 Malcolm Reynolds Ltd Makes And Sells A Single Product Product Q With The Following Standard Specification 1 (70.39 KiB) Viewed 67 times

Question A5 Malcolm Reynolds Ltd makes and sells a single product, Product Q, with the following standard specification for materials: Quantity (Kg) Price per kg Direct materials х 12 40 Y 8 32 For the month of October the following actual information is provided. £ E 264,400 Sales Cost of Sales Direct Material Direct Labour Fixed Production overhead 159,000 45,400 23,000 227,400 36,600 Profit 2,200 units were produced and materials consumed in production during October amounted to 2,500 kg's of Material-X at £42 per kg and 1,800 kg's Material-Y at £30 per kg. Calculate the following variances for Malcolm Reynolds Ltd for the month of October: (a) Material price variance for Material X and Material Y. [4] (b) Material usage variance in kg and in £ for Material X and Material Y. [4]