Question
The standard cost card for one unit of a product shows the following costs for Material and Labour. Material 4 pieces @ Rs.5.00 Labour 10
The standard cost card for one unit of a product shows the following costs for Material and Labour.
Material 4 pieces @ Rs.5.00
Labour 10 hours @ Rs.1.50
5,700 units of the product were manufactured during the month of March 2003 with the following materials and labour costs:
Material 23,000 pieces @ Rs. 4.95
Labour 56,800 hours @ Rs.1.52
Calculate appropriate Material and Labour variances.
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Applying IFRS Standards
Authors: Ruth Picker, Kerry Clark, John Dunn, David Kolitz, Gilad Livne, Jance Loftus, Leo Van Der Tas
4th Edition
1119159229, 9781119159223
