47 N 09 22. All Variance Computation - Equi Prodn WIP Valuation The following information relates to a Manufacturing Concern: Standards Material A 24,000 Kgs at 3 per kg 72,000 Material B 12,000 Kgs at 4 per kg 48,000 Wages 60,000 hours at 4 per hour 2,40,000 Variable Overheads 60,000 hours at +1 per hour 60,000 Fixed Overheads 60,000 hours at 2 per hour 1,20,000 Total Cost 5,40,000 Budgeted Profit 60,000 Budgeted Sales 6,00,000 Budgeted Production (units) 12,000 Actuals Sales (9,000 units) Material A Consumed 22,275 kgs Material B Consumed 10,890 kgs Wages paid (48,000 hours) Fixed Overhead Variable Overhead Labour Hours worked Closing Work in Progress Degree of Completion: Material A and B Wages and Overheads 4,57,500 62,370 44,649 1,91,250 1,20,900 45,000 47.700 900 units 100% 50% Calculate all the Material and Labour Variances, Variable Overhead Expenditure and Efficiency Variance, Fixed Overhead Expenditure and Volume Variances and Sales Price and Sales Volume Variances