ed MX L01 18th dec PX A 01 18th dec PX 01.18th decx Course: Batch X 6 (6) WhatsApp X le.com/file/d/1xdWRJyh2IhNQYHArlxoANtfsU6KrPok4/view?ts=61bd6d6f Part A: Standard Costing .pdf 15 Marks Nike Corporation is into manufacturing shoes. In the financial Year 2019-20, Nike Corporation has the actual production was 20,000 units. The standard data for each unit of the product is given in the table below. Particulars Standard Actual Remarks Leather (Material) 200 gms @ Rs. 40/- gms @ 20/- Material Usage each each variance is unfavourable Labour 40 hours @ Rs. 55/- 42 hours @ Labour Rate variance each each is favourable Variable overneads 40 hours @ Rs. 30/- 42 hours @ Variable overhead each each expenditure variance is unfavourable 1. Fill in the data missing in the blanks for the actuals based on remarks given beside. (4 m) 2. Calculate the Material Usage Variance, labour Rate Variance and variable overhead Expenditure variance. (6 m) 3. Based on the variances calculated above, identify which all departments/managers would be reprimanded and which all departments/managers would be commended for their performance. Explain it in detail. (5 m) Note: The formulas for the variances have been given at the end. The same needs to be mentioned in the answer and all the detailed workings (step wise) needs to be shown while arriving at the variances ed MX L01 18th dec PX A 01 18th dec PX 01.18th decx Course: Batch X 6 (6) WhatsApp X le.com/file/d/1xdWRJyh2IhNQYHArlxoANtfsU6KrPok4/view?ts=61bd6d6f Part A: Standard Costing .pdf 15 Marks Nike Corporation is into manufacturing shoes. In the financial Year 2019-20, Nike Corporation has the actual production was 20,000 units. The standard data for each unit of the product is given in the table below. Particulars Standard Actual Remarks Leather (Material) 200 gms @ Rs. 40/- gms @ 20/- Material Usage each each variance is unfavourable Labour 40 hours @ Rs. 55/- 42 hours @ Labour Rate variance each each is favourable Variable overneads 40 hours @ Rs. 30/- 42 hours @ Variable overhead each each expenditure variance is unfavourable 1. Fill in the data missing in the blanks for the actuals based on remarks given beside. (4 m) 2. Calculate the Material Usage Variance, labour Rate Variance and variable overhead Expenditure variance. (6 m) 3. Based on the variances calculated above, identify which all departments/managers would be reprimanded and which all departments/managers would be commended for their performance. Explain it in detail. (5 m) Note: The formulas for the variances have been given at the end. The same needs to be mentioned in the answer and all the detailed workings (step wise) needs to be shown while arriving at the variances