Materials and manufacturing labour variances. (15 minutes) Consider the following data collected for Helsingr: mki5 DIRECT MATERIALS

Materials and manufacturing labour variances. (15 minutes) Consider the following data collected for Helsingr: mki5

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DIRECT MATERIALS Cost incurred: Actual inputs X actual prices EUR 200,000 Actual inputs X standard prices Standard inputs allowed for actual outputs X standard prices REQUIRED DIRECT MANUFACTURING LABOUR EUR 90,000 86,000 214,000 225,000 80,000 Calculate the price, efficiency and flexible-budget variances for direct materials and direct manufacturing labour.