Q1.

The standard cost card shows the following details relating to material needed to produce 1kg of sunflower oil:

Quantity of sunflower oil required: 3kg

Price of sunflower oil: 2.5/kg

Actual production data:

Production during the month: 1,000 kg

Quantity of material used: 3,500 kg

Price of sunflower oil: 3/kg

You are required to

a)Calculate the material cost variance

b)Calculate the material price variance

c)Material usage variance

Q2.

From the following particulars, calculate

(a)Material Cost Variances

(b)Material Price Variances

(c)Material Usage Variance

Quantity of material purchased = 3,000 units Value of material purchased = 9,000

Standard quantity of material required per tonne of output = 30 units Standard rate of material = 2.50 per unit

Opening stock of materials = Nil

Closing stock of material = 500 units

Output during the period = 80 tons

Q3.

Calculate various labor cost variances from the following data which are related to the month of january 2019:

Budgeted data Actual data

Production (units) 1,000 1,200

Units produce per hr. 8 6

Rate of wages per hr. 8 10

Hrs. of unbudgeted - 15

holidays

Idle time (hrs.) 5 8

Q4.

Kuusikko Oy has furnished you the following information for the month of January:

Budget Actual

Outputs (units) 30,000 32,500

Hours 30,000 33,000

Fixed overhead 45,000 50,000

Variable overhead 60,000 68,000

Working days 25 26

Calculate overhead variances.

Q5.

Jakone Oy Manufactures a particular product, the standard direct labour cost of which is 120 per unit whose manufacture involves the following:

Type of workers Hours Rate Amount

A 30 2 60

B 20 3 60

Total 50 -- 120

During a period, 100 units of the product were produced, the actual labour cost of which was as follows:

Type of workers Hours Rate Amount

A 3,200 1.50 4,800

B 1,900 4.00 7,600

Total 5,100 -- 12,400

Calculate:

a)Labour cost variance

b)Labour Rate variance

c)Labour Efficiency variance

Labour mix variance