The data below relate to the standards for the sole product of Marshal Corporati August: Standard direct material price $1.40 per kg Standard quantity of direct material 20 kg per unit Standard direct labour rate $17.00 per hour Standard direct labour hour 5 hours per unit Actual results for November are as follows: Actual output 1,100 units Direct material purchased 36,000 kg @ $1.76 per kg Direct material used 19,000 kg Direct labour 5,200 hours @ $18 per hour Required: Calculate the following variances, indicating whether each variance is favourable or unfavourable: (1) Direct material price variance (ii) Direct material quantity variance (iii) Direct labour rate variance (iv) Direct labour efficiency variance

The data below relate to the standards for the sole product of Marshal Corporati August: Standard direct material price $1.40 per kg Standard quantity of direct material 20 kg per unit Standard direct labour rate $17.00 per hour Standard direct labour hour 5 hours per unit Actual results for November are as follows: Actual output 1,100 units Direct material purchased 36,000 kg @ $1.76 per kg Direct material used 19,000 kg Direct labour 5,200 hours @ $18 per hour Required: Calculate the following variances, indicating whether each variance is favourable or unfavourable: (1) Direct material price variance (ii) Direct material quantity variance (iii) Direct labour rate variance (iv) Direct labour efficiency variance

Name: The data below relate to the standards for the sole product of Marsha
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Description: The data below relate to the standards for the sole product of Marshal Corporation inAugust:Standard direct material price$1.40 per kgStandard quantity of direct material 20 kg per unitStandard direct labour rate$17.00 per hourStandard direct labour

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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