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The Dawn Company has purchases 6000 pounds of material at Rs. 7.30 per pound. Actual costs incurred in the production of 2,000 units during June

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The Dawn Company has purchases 6000 pounds of material at Rs. 7.30 per pound. Actual costs incurred in the production of 2,000 units during June were follows: Direct Labor Direct Material VMOH Fixed MOH 4450 hours @ Rs.18.10 per hour 4200 pounds @ Rs.7.30 Rs. 28480 Rs. 42,000 Standards are: Direct Material Direct Labor VMOH Budgeted Fixed MOHRs. Budgeted Production 2 pounds @ Rs. 7.0 per pound 2 hour @ Rs. 18 per hour Rs. 6 per hour 43,000 21,500 Required: (a) Material Price & Quantity Variance. (6) Labor Rate & Efficiency Variance. (c) Variable Overhead Spending & Efficiency Variance. (d) Fixed Overhead Budget & Capacity Variance

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