Question
The following is information related to X Company, a company that uses a standard cost system: Standard cost card for 1 unit of Product A:
The following is information related to X Company, a company that uses a standard cost system:
Standard cost card for 1 unit of Product A:
Direct materials Raw Material A (1 kilogram @ $ 20/kg.) $ 20
Direct materials Raw Material B (1 kilogram @$ 10/kg.) $ 10
Direct labour (1 hour @ $15/hr.) $ 15
Variable overhead (1 hour @ $ 5/hr.) $ 5
Fixed overhead (1 hour @ $ 10/hr.) $ 10
Total budgeted fixed overhead: $ 1,000
Budget total units of production: 100 units
Actual units produced 88 units
Actual costs incurred: Total
Direct materials Raw Material A (130 kilograms $ 2,860
Direct materials Raw Material B ( 60 kilograms) $ 660
Direct labour (100 hours) $ 1,600
Variable overhead (100 hours) $ 480
Fixed overhead $ 1,120
Required:
Calculate the direct labour variances.
Calculate the two variable overhead variances.
Calculate the direct material variances.
Pls write clearly
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