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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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