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Calculate the fixed overhead volume and expense variances

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Reference no: EM132561038

From the following data a unit cost statement showing the prime cost of product A and B together with analysis of variances:

Material

                                Product A                        Product B

Standard:                     600kg@ Rs 5               90kg @ Rs 3

Actual :                        580kg @ Rs 5.50       100kg @ 2.50

Labor

Standard:                           80hrs @ Rs 2      16hrs @ Rs 2.80

Actual :                             92hrs @ Rs 1.75       14hrs @ 2.60

Question 1: Calculate:

a) Direct Materials Usage and Price Variances

b) Direct Labour Efficiency and Rate Variances

c) Variance Overheads Efficiency and Expense Variances

d) Fixed Overhead Volume and Expense Variances

Reference no: EM132561038

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