A. The following materials standards have been established for a particular product: Standard quantity per unit...

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A. The following materials standards have been established for a particular product: Standard quantity per unit of output......... Standard price...... 7.0 grams $12.60 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased......... Actual cost of materials purchased....... Actual materials used in production...... Actual output.... Required: 9,500 grams $127,300 9,000 grams 1,340 units Compute the following variances for raw materials, assuming that the price variance for materials is recognized at point of purchase: B. i. Direct materials price variance. ii. Direct materials quantity variance. (5 marks) (5 marks) The following direct labour standards have been established for product M80A: Standard direct labour hours.... Standard direct labour wage rate..... 1.3 hours per unit of M80A $14.10 per hour The following data pertain to the most recent month's operations during which 2,000 units of product M80A were made: Actual direct labour hours worked...... Actual direct labour wages paid......... Required: Compute the following variances for direct labour: 2,700 hours $36,450 i. Direct labour rate variance. ii. Direct labour efficiency variance. (5 marks) (5 marks) A. The following materials standards have been established for a particular product: Standard quantity per unit of output......... Standard price...... 7.0 grams $12.60 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased......... Actual cost of materials purchased....... Actual materials used in production...... Actual output.... Required: 9,500 grams $127,300 9,000 grams 1,340 units Compute the following variances for raw materials, assuming that the price variance for materials is recognized at point of purchase: B. i. Direct materials price variance. ii. Direct materials quantity variance. (5 marks) (5 marks) The following direct labour standards have been established for product M80A: Standard direct labour hours.... Standard direct labour wage rate..... 1.3 hours per unit of M80A $14.10 per hour The following data pertain to the most recent month's operations during which 2,000 units of product M80A were made: Actual direct labour hours worked...... Actual direct labour wages paid......... Required: Compute the following variances for direct labour: 2,700 hours $36,450 i. Direct labour rate variance. ii. Direct labour efficiency variance. (5 marks) (5 marks)

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A Raw Materials Variance Calculation i Direct Materials Price Variance The formula for Direct Materials Price Variance DMPV is DMPV Actual Price Stand... View the full answer