Only for question a.

Question 2 Magic Skin Sdn Bhd makes hand cream which is sold in tubes Of 100 grams. This product called "COCOHAND" and in March 2021, budgeted sales and production was 25,000 tubes. Page 2 of 4 The company uses a standard costing system. The standard quantity of materials for one tube of COCOHAND is 70 grams of Material A costing RM30.00 per kg and 30 grams of Material B costing RM19.00 per kg. A standard wage rate of RM6.00 per hour is to be paid for standard labour hours per tube of 25 minutes. All overheads incurred are fixed and to be absorbed at the rate of RM4.00 per unit of output. In March 2021, Magic Skin Sdn Bhd had incurred the following costs for actual production of 23,700 tubes. RM Materials: Material A (1,500 kg) 47,250 Material B (900 kg) 16,380 Labour (10,500 hours) 64,575 Overheads 98,400 During the month of March, the production process was reviewed and the layout in the factory floor was changed and improved. As a result, this enabled labour time to be reduced by 10 minutes. However, wage rates remained unchanged Required: a. Calculate the following variances: i. Material mix and yield variances ii. Fixed overhead expenditure variance iii. Labour efficiency planning and operating variances (8 marks) b. Briefly explain the difference between Currently Attainable Standards and Ideal Standards