FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The XYZ Company uses
STANDARD ACTUAL
Direct Material Rate per unit Rs. 10 Rate per unit Rs. 12
Total Cost Rs. 80,000 Quantity 8,600 units
Direct Labour Wages per hour Rs. 40 Wages per hour Rs. 30
Total labour hours 600 Total labour cost Rs. 16,500
Factory
Required:
1] Compute the Following. a) Material Price Variance
b) Material Quantity Variance c) Labour Rate Variance
d) Labour efficiency variance e) Overhead Variance
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