Makers Ltd assembles computer games machines. Standard costs have been prepared as follows: Gamesmaster Gotchya i £ Standard cost: Direct material: boards 5 10 components 20 30 Direct labour: assembly 5 5 testing 5 10 Overheads charged at 200% 20 _30 85 Profit margin 1 15 Standard selling price 66 100 The standard direct labour rate is £5 per hour. During May 2014, 5,000 Gamesmasters were sold at £60 each and 2,000 Gotchyas at £110 each.

Actual costs were incurred as follows: £ 5,050 Gamesmaster boards 26,000 5,060 sets Gamesmaster components 75,000 2,010 Gotchya boards 28,390 2,025 sets Gotchya components 56,409 10,000 assembly labour hours @ £4.90 49,000 7,000 testing labour hours at £5.10 35,700 Overheads 160,000 430,499 There is no opening or closing inventory. Required: A schedule of direct materials and direct labour variances for the month. (Welsh Joint Education Committee: GCE A-level)