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The following information is available from the cost records of Vatika & Co., for the month of August 2017: Material Purchased - 30,000 Kg, Rs.
The following information is available from the cost records of Vatika & Co., for the month of August 2017:
Material Purchased - 30,000 Kg, Rs. 135,000;
Material Consumed - 28,800 Kg
Actual Wages paid for 7,940 Hours, Rs. 39700;
Units Produced - 2700 Units
Standard rates and prices are:
Direct Material Rate is Rs. 4.10 per unit;
Direct Labour Rate is Rs. 4.40 per hour
Standard Input is 10 Kg for one Unit;
Standard Requirement is 2.8 Hours per Unit
Calculate all material and labour variances for the month of August 2017. Comment on your findings
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