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Solve direct labor efficiency and rate variances

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From the following data prepare a unit cost statement showing the prime coat of product X and Y together with analysis of variance:

                                                                        Product X                                     Product Y
Material: Standard                                       600 Kgs. @ Rs. 5.00                     90 Kgs. @ Rs. 3.00
Actual                                                         580 Kgs. @ Rs. 5.50                  100 Kgs. @ Rs. 2.50
Labour: Standard                                           80 Hours @ Rs. 2.00                   16 Hours @ Rs. 2.80
Actual                                                         92 Hours @ Rs. 1.75                   14 Hours @ Rs. 2.60

Question a) Direct Materials Usage and Price Variances

Question b) Direct Labor Efficiency and Rate Variances

Reference no: EM132560848

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