\

Calculate Material Price Variance

Material Quantity Variance

Labour price variance

labour quantity variance

label if all are favourable or unfavourable

Exercise 12.31 a-d Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $6 per kilogram) Direct labour (2 hours at $12 per hour) Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit $12.00 24.00 10.40 7.50 $53.90 Actual costs for producing 2,740 units were as follows: Direct materials used Direct materials purchased (6,580 kg) Direct labour (6,920 hours) Variable manufacturing costs Fixed manufacturing costs 5,940 kg $38,822 $69,200 $32,700 $18,000