My Media

Question $3(\frac{?}{{?}_J}$ marks$)$

ABC developed the following standard costs for the year:

Search$\backslash$table$[[$Actual results for the year are:,$],[14,200,$Units of Production$],[$$$552,420,$Direct Labour Costs$],[27,900,$hrs Direct Labour$],[$$$550,000,$Direct Material Cost$],[60,000,$kg of Material Used$],[$$$340,000,$Manufacturing Overhead$]]$

Instructions

Calculate the following:

A$.$ Direct materials price variance

B$.$ Direct materials quantity variance

C$.$ Direct labour price variance

D$.$ Direct labour quantity variance