Mirza Water Assembly Plant wants to know the Material variance incurred in their Production. Below is...

  

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Mirza Water Assembly Plant wants to know the Material variance incurred in their Production. Below is the data related to material variance calculation. 1. Standard Material Cost per Unit: RM80 2. Actual Material Cost per Unit: RM90 3. Standard Quantity of Material Used: 5000 units 4. Actual Quantity of Material Used: 5500 units Required: i. Material Price Variance ii. Material Quantity Variance iii. Total Material Variance (4 marks) (4 marks) (4 marks) Mirza Water Assembly Plant wants to know the labor cost variance incurred in their Production. Below is the data related to material variance calculation. 1. Standard Labor Cost per Hour: RM120 2. Actual Labor Cost per Hour: RM140 3. Standard Hours of Labor Worked: 2000 hours 4. Actual Hours of Labor Worked: 1800 hours Required: i. Labor Rate Variance ii. Labor Efficiency Variance iii. Total Labor Cost Variance (4 marks) (4 marks) (4 marks) Mirza Water Assembly Plant wants to know the Material variance incurred in their Production. Below is the data related to material variance calculation. 1. Standard Material Cost per Unit: RM80 2. Actual Material Cost per Unit: RM90 3. Standard Quantity of Material Used: 5000 units 4. Actual Quantity of Material Used: 5500 units Required: i. Material Price Variance ii. Material Quantity Variance iii. Total Material Variance (4 marks) (4 marks) (4 marks) Mirza Water Assembly Plant wants to know the labor cost variance incurred in their Production. Below is the data related to material variance calculation. 1. Standard Labor Cost per Hour: RM120 2. Actual Labor Cost per Hour: RM140 3. Standard Hours of Labor Worked: 2000 hours 4. Actual Hours of Labor Worked: 1800 hours Required: i. Labor Rate Variance ii. Labor Efficiency Variance iii. Total Labor Cost Variance (4 marks) (4 marks) (4 marks)

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Material Variances i Material Price Variance Material Price Variance Actual Material Cost per Unit S... View the full answer