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Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product: Direct materials (6 kg at
Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product:
Direct materials (6 kg at $2.20 per kilogram) | $13.20 | ||
Direct labour (2.50 hours at $13.20 per hour) | $33.00 |
During the month of April, the company manufactures 290 units and incurs the following actual costs:
Direct materials purchased and used (1,840 kg) | $4,232 | ||
Direct labour (705 hours) | $9,024 |
Calculate the total, price, and quantity variances for materials and labour.
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