Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the information below calculate the variances required which are detailed at the end of the financial information. (CLO 3) BUDGET Unit Total Production (8,700
Using the information below calculate the variances required which are detailed at the end of the financial information. (CLO 3) BUDGET Unit Total Production (8,700 units) Materials 4 kg @ 4.50/kg 18 156,600 Labour 5hrs @ 5/hr 25 217,500 ACTUAL Production (8,900 units) Materials purchased 35,464 kgs for 163,455 161,043 Labour (45,400 hours worked and paid) 224,515 Required: Calculate the following variances: (i) Total Materials Variance (iv) Total Labour Variance (ii) Materials Usage Variance (v) Labour Efficiency Variance (iii) Materials Price Variance (vi) Labour Rate Variance
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