Prophetic Twist Ltd manufactures quality blocks for the housing industry in Ghana. It operates a standard marginal costing system. The following standard costs, volume and revenue data for the quarter ending July 30, 2021 are provided:

Standard cost card:

Selling price Costs:	GH18 per block
Direct material	P 3 kg at GH2.60 per kg
	Q 2 kg at GH2.50 per kg
Direct labour	2 hours at GH0.60 per hour

Budgeted sales for the quarter: 62,500 blocks

Variable overheads are absorbed at the rate of GH0.50 per direct labour hour.

Fixed production overheard for the quarter are estimated to be GH78,500

The following actual results were recorded for the quarter just ended July 30, 2021:

Production :		60,000 blocks
Sales :		58,000 blocks
Price :		GH17.00 per block
Direct material	P	150,000 kg were bought and used at GH360,000
	Q	109,000 kg were bought and used at GH327,000
Direct labour		108,000 hours were worked for at a cost of
		GH90,400
Variable overheads		GH82,000
Fixed production overheads		GH80,000

Required:

a. Calculate the following variances for the quarter just ended 30 July, 2020 the:

i) Material Price and usage variances for each material;

ii) Material Mix and yield variance for each material;

iv) Labour rate, labour efficiency and idle time variances

iv) Variable overheads expenditure and variable overheads efficiency variances.

v. Sales margin and volume vaiance

b. Describe the balanced score card approach to performance measurement.