subject: Managerial accounting.

can you please answer in a simple way, step by step.

Question 1 lises in the sale of and Co. operates a Pct Shop in Kildare which specia horse feed. Standard data per 3kg bag of the most pop the current year is: 7.00 1.65 Selling price Direct Materials Direct Labour 3kgs @ 0.55 per kg 0.2 hours @ 10.00 per hour2.00 0.80 verhead 0.2 hours @ e4.00 per hour 0.2 hours @ 8.00 per hour 1.60 Fixed Overhead 6.05 0.95 Standard Gross Profit Budgeted production The company uses a standard absorption costing system. and sales for August was 20,000 bags of horse feed. The actual results for August were as follows: Sales Revenue Direct Materials 148,050 63,900 kgs 3,900 hours 33,867 38,610 16,380 31,005 119.862 Direct Labour Variable Overhead Fixed Overhead Actual Gross Profit Actual Production and Sales in August was 21,000 bags of feed. 28.188 Required: Calculate all relevant cost variances. Total 50 marks)