Hello,

I'm seeking some assiance with the folllowing:

a. Direct material price variance

b. Direct material usage variance

c. Direct labour rate variance

d. Direct labour efficency variance.

Many thanks

Wheeler Corporation produces and sells special eyeglass straps for sporting enthusiasts. In 2011, the company budgeted for production and sales of 1200 straps. However, the company produced and sold just 1100 straps. Each strap has a standard requiring one metre of material at a budgeted cost of $1 .50 per metre and two hours of assembly time at a cost of $12 per hour. Actual costs for the production of 1100 items were $1435.50 for materials (990 metres at $1.45 per metre) and $29 161 for labour (2420 hours at $12.05 per hour)