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kindly help me with this question as soon as possible Pan Gravy Pvt Ltd. manufactures pre-mixed gravy and packed it in a container. The Static

kindly help me with this question as soon as possible

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Pan Gravy Pvt Ltd. manufactures pre-mixed gravy and packed it in a container. The Static Budget prepared for the quarter ending March 2019, has the following data: Budgeted production: 5,000 containers Indirect costs: Fixed overheads: 3 labour hours per container at $20 per labour hour $60.00 Variable overheads: 3 labour hours per container at $25 per labour hour $75.00 Direct costs: Raw materials: 2 kilograms per container at $5.00 per kilogram $10.00 Direct labour: 3 labour hours per container at $18.00 per labour hour $54.00 Total $199,00 Total fixed overheads $400,000 Total variable overheads $375,000 The actual production data for the quarter ending March 2019 is as follows: Due to a shortage of factory workers in the market the company paid the direct labour cost at the rate of $20 per hour. Actual direct labour hours incurred was 10,500 hours. Material purchased and used amounted to 5,000 kilograms and the purchasing manager paid for the materials at $10 per kilogram. Fixed overhead costs amounted to $33,000 (an expected capital expenditure was not implemented) while variable overhead costs were at $500,000. The final production for the quarter ending March 2019 was 3,000 containers. Required: (a) Show calculations for the direct materials price and quantity variance (3 marks) (b ) Show calculations for the direct labour rate and efficiency variance (3 marks) (c) Show calculations for the variable overhead rate and efficiency variance (4 marks) (d) Show calculations for the fixed overhead budget and volume variance (4 marks) (e) Give possible reasons for the favourable and unfavourable variances for direct materials and direct labour

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