Larabee Ltd prepared a budget for the production of 300 units in April 2004 as follows. The
Question:
Larabee Ltd prepared a budget for the production of 300 units in April 2004 as follows.
The production for the month was 400 units and the costs were as follows.
Required
(a) Calculate the following variances for April 2004:
(i) Direct material usage
(ii) Direct material price
(iii) Direct labour efficiency
(iv) Direct labour rate.
(b) Comment on the variances in (a) and suggest possible causes.
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To calculate the variances for April 2004 we will use the standard costs provided in the budget and compare them to the actual costs incurred during the month a Calculate the following variances i Dir...View the full answer
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