Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information is for Obaapa Ltd's July production:Standards:Material: 3.0 feet per unit @ GH4.20 per foot, Labour: 2.5 hours per unit @ GH7.50 per
The following information is for Obaapa Ltd's July production:Standards:Material: 3.0 feet per unit @ GH4.20 per foot, Labour: 2.5 hours per unit @ GH7.50 per hour.Actual:Production: 2,750 units produced during the month, Material: 8,700 feet used; 9,000 feet purchased @ GH4.50 per foot, Labor: 7,000 direct labour hours @ GH7.90 per hour.Determine the total material cost and total labour cost variance, separating them into their corresponding price and quantity variances.show all workings clearly (Round all answers to the nearest cedi).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started