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Determine the total material cost

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Question - The following information is for Obaapa Ltd's July production: Standards: Material: 3.0 feet per unit @ GH¢4.20 per foot, Labour: 2.5 hours per unit @ GH¢7.50 per hour. Actual: Production: 2,750 units produced during the month, Material: 8,700 feet used; 9,000 feet purchased @ GH¢4.50 per foot, Labor: 7,000 direct labour hours @ GH¢7.90 per hour. Determine the total material cost and total labour cost variance, separating them into their corresponding price and quantity variances. Show all workings clearly.

Reference no: EM132536762

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