Question

3

: 10 Marks

Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for

one unit of the product:

Direct materials (6 kg at $2.50 per

kilogram)

$15.00

Direct labour (3.1 hours at $12 per hour)

$37.20

During the month of April, the company manufactures 250 units and incurs the following actual

costs:

Direct materials purchased and used (1,600 kg)

$4,192

Direct labour (760 hours)

$8,740

Required:

Calculate the total, price, and quantity variances for materials and labour