Zeta Ltd has the following details: Material purchased 24,000 kg = 1,05,600 Material consumed= 22,800 kg Actual wages paid for 5,940 hours = 29,700 Unit produced 2,160 units. Standard rates and prices are: Direct material rate is 4.00 per unit Direct labour rate is 4.00 per hour Standard input is 10 kg. for one unit Standard labour requirement is 2.5 hours per unit. Calculate all material variances.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Zeta Ltd has the following details:

Material purchased 24,000 kg = 1,05,600

Material consumed= 22,800 kg

Actual wages paid for 5,940 hours = 29,700

Unit produced 2,160 units.

Standard rates and prices are:

Direct material rate is 4.00 per unit

Direct labour rate is 4.00 per hour

Standard input is 10 kg. for one unit

Standard labour requirement is 2.5 hours per unit.

Calculate all material variances.

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