QUESTON 5 Part A Quince Industries provided the following information about its standard costing system for 2019: Materials Standard Data 10 kg. @ RM4 per kg Quantity produced Actual Data 6,000 units Labour 3 hours @ RM21 per hour Materials purchased 75,000 kg for RM315,000 Materials used 61,500 kg Actual labour hours 16,500 hours for RM330,000 Required: Compute the followings: (a) Material price variance. (b) Material quantity variance. (c) Labour price variance. (d) Labour quantity variance. (3 marks) (3 marks) (3 marks) (3 marks) Part B Rhubarb Berhad budgeted 10,000 widgets for production during 2019. The company has capacity to produce 12,000 units. The following estimated costs were provided: RM Direct materials (RM6 per unit) 60,000 Direct labour (RM15 per hour x 2 hours per unit) 300,000 Variable manufacturing overhead (RM3 per unit) 30,000 Fixed manufacturing overhead (RM4 per unit) 40,000 Required: Rhubarb Berhad received an order from a new customer who offers to purchase 1,000 widgets for a price of RM41 per widget. Demonstrate whether the company should accept the order or not? (8 marks) TOTAL 20 MARKS