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Calculate all material and labour variances for the month

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Question - The following information is available from the cost records of Vatika & Co., for the month of August 2017:

Material Purchased - 30,000 Kg, Rs. 135,000;

Material Consumed - 28,800 Kg

Actual Wages paid for 7,940 Hours, Rs. 39700;

Units Produced - 2700 Units

Standard rates and prices are:

Direct Material Rate is Rs. 4.10 per unit;

Direct Labour Rate is Rs. 4.40 per hour

Standard Input is 10 Kg for one Unit;

Standard Requirement is 2.8 Hours per Unit

Required - Calculate all material and labour variances for the month of August 2017. Comment on your findings?

Reference no: EM132824909

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