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No image plz, except excel output Scenario Analysis 5 (7 marks) During June 2021, Johnston Ltd's material purchases amounted to 6,500 kilograms at a price
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Scenario Analysis 5 (7 marks) During June 2021, Johnston Ltd's material purchases amounted to 6,500 kilograms at a price of $7.50 per kg. Actual costs incurred in the production of 2000 units were as follows: Direct Labour $124,875 ($18.5 per hour) Direct Material $33,750 ($7.5 per kilogram) The standards for one unit of Henderson's product are as follows: Direct Labour Direct Material Quantity: 2.5 hours per unit Quantity: 2 kilogram per unit Rate: $18 per hour Price: $7.20 per kilogram Required: 1. Calculate the direct material price and quantity variances and the direct labour rate and efficiency variances. Indicate whether each variance is favourable or unfavourable. (3 marks) 2. Draw diagrams depicting the direct material and direct labour variances, similar to the diagrams shown in Chapter 10 (4 marks)Step by Step Solution
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