You have been given the following information about ALG Co. Ltd., which uses a standard cost system in accounting for its one product: 1. In the month of November 2020, 4,890 units were produced. 2. The annual overhead budget includes $744,000 for variable and $1,041,600 for fixed overhead items. Budgeted production for the year is 49,600 units. Overhead is applied based on direct labour hours. 3. The materials standard per unit is 20 litres at $1 per litre. 4. The direct labour standard per unit is 3 hours at $10.00. 5. The actual price paid for material was $0.98. 6. The actual direct labour rate was $10.50. 7. Actual fixed overhead costs totalled $88,700. 8. The following variances have already been calculated: Materials price 700 F Materials quantity 1,790 U Labour rate 7,240 U Variable overhead spending 1,980 U Calculate the quantity of material purchased. Quantity of material purchased litres Calculate the quantity of material used. Quantity of material used litres Calculate the actual direct labour hours worked. Actual hours worked hours Calculate the labour efficiency variance. Labour efficiency variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency variance $ Calculate the actual variable overhead. Actual variable overhead $ Calculate the fixed overhead budget variance. Fixed overhead budget variance $ Calculate the fixed overhead production volume variance. Fixed overhead volume variance $ Question Attempts: 0 of 1