Q1. Question 1 :The standard mix to produce one unit of product is as follows: Material A 60 units @ $15 per unit Material B 80 units @ $20 per unit Material C 100 units @ $25 per unit During the month of July, 10 units were actually produced and consumption was as follows: Material A 640 units @ $17.50 per unit Material B 950 units @ $ 18.00 per unit Material C 870 units @ $27.50 per unit Calculate material variances Q2. The following information is supplied to you: Standard time for a month :4000 hours Standard wage rate : $.2.25 per hour Number of laboure$ employed : 30 Average working days in a month : 25 No. of hours a worker works per day : 7 hours Total wage bill in a month : $. 13125 You are required to calculate the following: a) Direct Labour Cost Variance b) Direct Labour Efficiency Variance Q3. The following data pertains to a company's first week of operations in June 2021 Required: Compare the following variances to determine whether they are favorable or unfavorable: a) Material Cost Variance b) Material Efficiency Variance c) Labour cost variance d) Labour Efficiency Variance Materials: Actual purchased Actual usage Standard usage Direct Labor: = 1,500 units @ $3.80 per unit = 1,350 units = 1,020 units @ $4.00 per unit Actual hours Standard hours Q4. From the following information, calculate direct labour cost variance: Standard wage rate per hour: $5 Standard time set: 1000 hours Actual wage rate per hour : $ 6 Actual time taken: 980 hours. =310 hours $12.10 per hour = 340 hours @ $12.00 per hour