19 et Heading 2 E39 T Normal Subtitle Bold TNO Paragraph Question No. 3 Styles (25 Marks) Following are the details of Tango Corporation Standard Cost Material: 2kg per unit @ OMRIS per kg Labour: 5 hours per unit @ OMR10 per hour Actual Cost 2000 units were produced using 3500 kg @OMR 8 per kg and 4000 hours OMR 20 per hour Required: A. Calculate 1. Material Quantity Variance (MQV) 2. Material Price Variance (MPV) 3. Labor Rate Variance (LRV) 4. Labor Efficiency Variance (LEV) (2 Marks) (2 Marks) (2 Marks) (2 Marks) The variable production overhead cost of a product is as follows: Standard hours 5 hours Standard rate in OMR 4 per hour Actual units produced 1200 units Labour hours including idle time 3500 hours Idle time 40 hours Actual variable cost in OMR 30000 Majan University College Page 3 of 4 Focus DE B acer EN cl clia Heading 2 1 Normal Subtitle Bold Styles Paragraph B. Calculate: 1. The variable overhead total variance 2. The Variable production overhead Expenditure Variance 3. The Variable production overhead Efficiency Variance (2 Marks) (2 Marks) (2 Marks) The Fixed production overhead data of a product is as follows: Budgeted units Expected time to produce 1 unit Budgeted fixed overheads in OMR Budgeted fixed overhead rate per hour OMR Budgeted fixed overhead rate per unit OMR Actual fixed overheads in OMR Actual units produced Actual hours worked 1400 units 6 hours 8400 1 per hour 6 per unit 10000 1300 units 3500 hours C. Calculate: 1. The fixed overhead total variance 2. The fixed overhead expenditure variance 3. The fixed overhead volume variance 4. The fixed overhead volume efficiency variance 5. The fixed overhead volume capacity variance (2 Marks) (2 Marks) (2 Marks) (2 Marks) (3 Marks) Ouestion No. 4 (25 Marks) D. F