What is the total standard cost

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Reference no: EM132823487

Question - The following costs are related to questions 1- 4: A company's actual and standard costs of production are as follows:

	Standard Costs (TL)	Actual Costs (TL)
Direct Materials	30,000	31,000
Direct Labor	20,000	18,000
General Production Expenses	15,000	14,000

1. What is the total standard cost?

2. What is the total actual cost?

3. What is the variance between the actual and the standard costs for direct materials?

4. What is the variance between the actual and the standard costs for direct labor?

Reference no: EM132823487

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