(Answered) Abc developed the following standard costs for direct

Management Studies

ABC developed the following standard costs for direct material and direct labor for one of their major projects;

	Standard Quantity	Standard Price
Direct Materials	10 kilograms	$5 per kilogram
Direct Labor	0.5 hours	$30 per hour

During 2015, the company produced and sold 100,000 units using 990,000 kilograms of direct materials at an average cost of $4.95 per kilogram, and total direct labor costs of $1,428,000 (51,000 DLH's incurred)

Question: Calculate the 2015 price and quantity (efficiency) variances, and total variances, for direct material and direct labor. Show calculations.

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Business Management, Management Studies

Category:- Business Management
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