Business, 21.05.2021 14:00 mathhelper22

Direct Material 600,000 kgs at Rs. 9 per kg Direct Labor 4 hours per unit at Rs. 6 per hour
Factory overhead:
Fixed cost Rs. 240,000 per year or Rs. 20,000 per month.
Variable Cost Rs. 4.50 per hour.

During the one month of operation, company produced 11,000 units.
Direct material used: 60,500 kgs at Rs. 9.10 per kg
Direct labor used: 41,250 hours at Rs. 268,125
Actual Variable Factory overhead Rs. 55,000
Required:
Calculate the following variances:
a) Material quantity variance.
b) Material price variance.
c) Labor efficiency variance.
d) Labor rate variance.
e) Factory overhead controllable variance.
f) Factory overhead volume variance.

Answers: 2

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Direct Material 600,000 kgs at Rs. 9 per kg Direct Labor 4 hours per unit at Rs. 6 per hour
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