20 MARKS Namtech Ltd. is an eloctronics compsny which makes two types of tolevisions- plasma screen and LCD Tv. It operates within a highly compattive market and is constantly under pr reduce prices Namtech Ltd operates a standard costing system and performs a de both products on a monily bass detailed analysis of Extracts from the mansgement information for the month of November are sa fo Total number of units made and sold 1400 Material Price Variance Tatal Labour Variance NS 28 000 (Ufancurabie NS 6 050 (Unfavourable)3 Notes; t. The budgeted total sales volume for the TVs was 1180 units, consisting of an equal mox of plssma screen TVs and LCD screen TVs. The actual sale volume was 750 plasma TVs 650 LCD TVs. Standard saies prices are N$ 350.00 per unit for the plasma TVs a and nd NS November were N$ 330.00 The standard contribution for per unit of plasma TVs and N$ 290 per unit for the LCD TVs. The plasma TV's and LCD TVs ara NS 190.00 and NS 180.00 respectively 2The reason for this variance was an increase in the purchase price of its key components. Gammer. Each plasma TV and each LCD TV made requires one unit of component Gammer for which Namtech Ltd standard cost is N5 60.00 per unit. Due to a shortage of components in the market, the market price for November went up to NS 85.00 par unt of Garmmer Namtech actually paid N$80 00 per unil for n uutes Each Plasma TV uses two standard hours of labour and each LCD muses one and a half standard hour of labour. The standard cost for the labour is NS 14.00 per hour and this also reflects the actual cost per labour for the company permanent staff in Navember. However because of the increase in the sales and production valumes in November, the company also had to use additional temporary labour at a higher cost of NS 18.00 per hour. The total capacity of Namtech Ltd permanent workforce is 2 200 hours productian per month assuming ful efficiency. In the month of November, the permanent workforce were wholly efficient, taking exactly two hours to complete each plasma TV and exactly one and a half hour to produce esch LCD TV. The total labour variance therfore relates solely to the temporary workers, who took twice as long as the permanent workers to complete the V. 3 REQUIRED 4.1 Calculate the Sales Price Variance 4.2 Calculate the Sale Volume Contribution Variance 4.3 Calculate the Matenial Price Planning Variance 4.4 Calculate the Material Price Operational Variance 4.5 Calculate the labour Rate Variance 4.6 Calculate the Labour Efficiency Variance 4.7 Explain any three reasons why the company will be interested in computing the vana in 3.3 and Page 12 of 12