The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs
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The following details were extracted from the standard cost card of a component:
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Raw Materials 2.82 Kgs @ 4.80 Kg Direct Labour Type I 6.5 hrs @ 3.75 Type II 3.85 hrs @ 4.25 During a period actual results were as follows: Production 1,100 components. Direct Material Purchase and usage 3,200 Kgs at a cost of 15,100 Wages Paid Type I (7,120 hrs) 27,056 Type II (4,235) 18,210 You are required to calculate what variances have arisen.
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