Reference no: EM133068195
Question - Direct Material and Labour Variance: Manufacturer - During September, Wonderland Ltd material purchases amount to 7,000 kilograms at a price of $8.00 per kg. Actual costs incurred in the production of 2,700 units were as follows:
Direct labour $118,611 $19.10 per hour
Direct material $51,000 $8.00 per kilogram
The standard for one unit of product is as follows:
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Quantity
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Price/Rate
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Direct Labour
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2.5 hours per unit
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$21 per hour
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Direct material
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2.5 kilograms per unit
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$7 per kilogram
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Required - Calculate the following variance, indicating whether each variance is favorable or unfavorable:
(a) Direct material price variance.
(b) Direct material quantity variance.
(c) Direct labour efficiency variance.
(d) Direct labour rate variance.
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