Question $1$

JLO Ltd$.$ Operates a variance accounting system. The monthly budget is to make and sell $1600$ units of a single product which has the following standard unit cost details:

Standard Quantity Standard Price

Direct material $11\mathrm{.}50$ kg RM$4$ per kg

Standard hours Standard Rate

Direct labour $4$ hours RM$5$ per hour

The following actual data was recorded for the last monthly accounting period:

Units produced $1670$

Materials purchased $24000$ kg$,$ costing RM$92400$

Materials used $19850$ kg

Direct labour $6590$ hours, costing RM$34268$

Required : Calculate the followings

a$)$ Material price variance

b$)$ Materisl usage variance

c$)$ Material cost variance

d$)$ Direct labour rate variance

e$)$ Direct labour efficiency variance

f$)$ Direct labour cost variance