Mapulanga Co. uses a variance analysis system to monitor its performance. In a certain month the following data applies: 

1.4 tonnes of raw materials are needed at a cost of K60 per tonne. It takes 2 labour hours of work to produce 1 tonne of finished product and labour is normally paid at K20 per hour. 

Idle time is expected to be 10% of hours paid; this is reflected in the rate of K20 above. 2 hours of variable overhead at a cost of K30 per hour the standard selling price is K240 per tonne budgeted information for the month is Fixed costs were budgeted at K210,000 for the month, budgeted production and sales were 8,400 tonnes the actual results for the month were as follows: 

Actual production and sales were 8,000 tonnes. 

12,000 tonnes of raw materials were bought and used, costing K660,000.00 

15800 labour were paid for, costing K303,360. 

15000 labour hours were worked variable production overhead cost K480,000 

fixed costs were K200,000.00 

sales revenue achieved was K1,800,000.00 

Required: 

(a) Prepare a standard cost card 

(b) Calculate the following variances for the month 

Material price variance 

material usage variance 

labor rate variance 

labor efficiency variance 

idle time variance variable 

overhead efficiency

variable overhead 

expenditure variance

sales price 

sales volume 

fixed cost expenditure variance