1.Calculate the material variances:

standard price per meter $4

actual price per meter $3

standard usage(Quantity) per unit 5 meters

actual usage (Quantity) per unit 7 meters

2.Calculate Material Cost Variance from the following information:

standard price of material per kg=$4

standard usage of materials=800kgs

actual usage of materials=920kgs

actual price of materials per kg=$3

3.Calculate labour cost variance from the following information:

standard labour rate=$4

standard hours=800hrs

actual hours=920hrs

actual labour cost=$3