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The following data pertain to the first week of operations during the month of june:

Materials: actual purchases 1500 units at Rs.3.80 per unit

Actual usage 1350 units

Standard usage 1020 units at Rs.4.00 per unit

Direct labour: actual hours 310 hours at Rs.12.10 per hour

Standard hours 340 hours at Rs.1.00 per hour

Required: compute the following variance indicating whether the variances are favorable or unfavorable:

(i) Materials purchase price variance price usage variance, and quantity variance.

(ii) Labour rate efficiency variance.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796610

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