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Compute the labour rate and labour efficiency variances

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Reference no: EM133089742

Question - At the start of the year Jessica had the following standard cost sheet for one of its makeup products:

Direct Materials (0.5 kilograms @ $20)

Direct Labour (5 hours @ $15)

The actual results for the year were:

Units produced 230,000

Materials purchased  562,000 kilograms at $16.50

Material used 565,500 kilograms

Direct labour 460,000 hours $18

Required -

1. Compute the price and usage variances for materials?

2. Compute the labour rate and labour efficiency variances?

Reference no: EM133089742

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