ABC Co planned to make 65,000 units of products in August. The standard cost of one...

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ABC Co planned to make 65,000 units of products in August. The standard cost of one unit is as follows: Direct material (5kg @$2 per kg) Direct labour 2 hours @$11 per hour Variable overhead $5 per labour hour Fixed cost Standard profit Standard selling price $ per unit 10 22 10 12 54 30 84 During the month of August, 68000 units were produced, 140,000 labour hours were worked. $1,520,000 was spent on direct labour and $720,000 was spent on variable overheads. Actual direct material cost were $668,000 and actual direct material used were 385,000kgs. 1. Calculate the direct labour rate variance for August 2. Calculate the variable overhead efficiency variable for August 3. Calculate the direct material price variance for August 4. Calculate the direct material usage variance for August $ $ $ $ ABC Co planned to make 65,000 units of products in August. The standard cost of one unit is as follows: Direct material (5kg @$2 per kg) Direct labour 2 hours @$11 per hour Variable overhead $5 per labour hour Fixed cost Standard profit Standard selling price $ per unit 10 22 10 12 54 30 84 During the month of August, 68000 units were produced, 140,000 labour hours were worked. $1,520,000 was spent on direct labour and $720,000 was spent on variable overheads. Actual direct material cost were $668,000 and actual direct material used were 385,000kgs. 1. Calculate the direct labour rate variance for August 2. Calculate the variable overhead efficiency variable for August 3. Calculate the direct material price variance for August 4. Calculate the direct material usage variance for August $ $ $ $