Production BUDGET Materials Labour ACTUAL Production Materials Labour (8,700 units) 4 kg @ $4.50/kg 5hrs @...

 

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Production BUDGET Materials Labour ACTUAL Production Materials Labour (8,700 units) 4 kg @ $4.50/kg 5hrs @ $5/hr (8,900 units) purchased 35,464 kgs for $163,455 (used 34,928 kgs) (45,400 hours worked and paid) Required: Calculate the following variances: (i) Total Materials Variance (ii) Materials Usage Variance Materials Price Variance (iii) (iv) (v) (vi) Unit $ 18 25 161,043 224,515 Total Labour Variance Labour Efficiency Variance Labour Rate Variance Total $ SA 156,600 217,500 Production BUDGET Materials Labour ACTUAL Production Materials Labour (8,700 units) 4 kg @ $4.50/kg 5hrs @ $5/hr (8,900 units) purchased 35,464 kgs for $163,455 (used 34,928 kgs) (45,400 hours worked and paid) Required: Calculate the following variances: (i) Total Materials Variance (ii) Materials Usage Variance Materials Price Variance (iii) (iv) (v) (vi) Unit $ 18 25 161,043 224,515 Total Labour Variance Labour Efficiency Variance Labour Rate Variance Total $ SA 156,600 217,500 Production BUDGET Materials Labour ACTUAL Production Materials Labour (8,700 units) 4 kg @ $4.50/kg 5hrs @ $5/hr (8,900 units) purchased 35,464 kgs for $163,455 (used 34,928 kgs) (45,400 hours worked and paid) Required: Calculate the following variances: (i) Total Materials Variance (ii) Materials Usage Variance Materials Price Variance (iii) (iv) (v) (vi) Unit $ 18 25 161,043 224,515 Total Labour Variance Labour Efficiency Variance Labour Rate Variance Total $ SA 156,600 217,500 Production BUDGET Materials Labour ACTUAL Production Materials Labour (8,700 units) 4 kg @ $4.50/kg 5hrs @ $5/hr (8,900 units) purchased 35,464 kgs for $163,455 (used 34,928 kgs) (45,400 hours worked and paid) Required: Calculate the following variances: (i) Total Materials Variance (ii) Materials Usage Variance Materials Price Variance (iii) (iv) (v) (vi) Unit $ 18 25 161,043 224,515 Total Labour Variance Labour Efficiency Variance Labour Rate Variance Total $ SA 156,600 217,500

Answer rating: 100% (QA)

ANSWER Here is the best way to salove this question i Total material variance Standard material cost for actual units produced Actual material cost in... View the full answer