Question
Consider the following data for Veer Ltd: Direct Materials Direct Labor Actual price per unit of inputs (Kg and hour) in Rs 7.5 12 Standard
- Consider the following data for Veer Ltd:
|
| Direct Materials | Direct Labor |
| Actual price per unit of inputs (Kg and hour) in Rs | 7.5 | 12 |
| Standard price per unit of inputs in Rs | 7 | 14 |
| Standard inputs allowed per unit of output | 8 | 2 |
| Actual units of inputs | 1,16,000 | 29,000 |
| Actual units of output (product) | 14,400 | 14,400 |
Calculate the Price variance and the Usage variances for the direct material and the direct labor and the Total variance. What could be the rationale for such a Price variance? Use UF or F to indicate whether the variances are unfavorable or favorable respectively.
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Financial Sector Reform And Privatization In Transition Economies
Authors: John Doukas, Victor Murinde, Clas Wihlborg
1st Edition
044482653X, 9780444826534
