Question: please solve it. tq PART B RM The material and labour standard cost card for producing one unit of XYZ is: RM Materials: 10 kgs

 please solve it. tq PART B RM The material and labour

please solve it. tq

PART B RM The material and labour standard cost card for producing one unit of XYZ is: RM Materials: 10 kgs of material A @ RM1 per kg 10 5 kgs of material B @ RM3 per kg 15 Labour: 20 hours of grade 1 labour at RM0.70 per hour 14 30 hours of grade 2 labour at RM0.50 per hour 15 Total standard cost for 1 unit 25 29 54 RM Actual production was 100 units and the actual costs are as follows: RM Materials: 950 kgs of material A 1,000 510 kgs of material B 1.400 2,400 Labour: 2,010 hours of grade 1 labour 2,950 hours of grade 2 labour 1,450 1,490 2,940 5,340 Required: a) Compute material price and quantity variances for materials A and B. (8 marks) b) Compute labour price and quantity variance for grade 1 and grade 2 labour. (8 marks)

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