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Lecture problem 6.3 A company manufactures status of the same size. Each unit requires same resources. The following information is from the static budget for 2011: Expected production and sales 5,000 units Direct materials 50,000 kgs Direct manufacturing labour 20,000 hours Total fixed costs $1,000,000 Standard quantities, standard prices and standard unit costs follow for direct materials and direct manufacturing labour. Standard Standard Standard Quantity price Unit cost Direct materials 10 kgs $10 per kg $100 Direct manufacturing labour 4 hours $40 per hour $160 During 2011, actual number of units produced and sold was 6,000. Actual cost of direct materials used was $594,000, based on 54,000 kgs purchased at $11 per kg. Direct manufacturing labour-hours actually used were $950,000. Actual fixed costs were $1,005,000. There was no beginning or ending inventories. Required: Calculate the sales-volume variance and flexible budget variance for operating income. b. Compute price and efficiency variances for direct materials and direct manufacturing labour. a