Standard cost information Actual cost information Material $ 1*per unit 35,000kg @ $34,000 Labour $1.5* 2hrs per unit 17
Posted: Wed May 04, 2022 7:25 am
Standard cost information Actual cost information Material $ 1*per unit 35,000kg @ $34,000 Labour $1.5* 2hrs per unit 17,000kg @ $30,000 Variable overhead $0.5*2hrs per unit $9,000 Fixed overhead $2*(2hrs*10,000 units) $40,000 Production Budgeted 10,000 units Actual 9,000 units Using the information above:
a) Determine the i. Material usage and price variances ii. Labour rate and efficiency variances iii. Variable overhead and efficiency variances
b) For each of the above variances, give a reason for the variance.
a) Determine the i. Material usage and price variances ii. Labour rate and efficiency variances iii. Variable overhead and efficiency variances
b) For each of the above variances, give a reason for the variance.