Budgeting - Variance Analysis help!!!

Can someone answer help explain the steps to answering this question please:-
Prepare the direct labour cost statement from the activity data provided
Budgetitems produced 18000 , budget 288000 hours, budget cost 1728000
Actual items produced - 17000, actual hours used 280500, actual costs 1626900
Direct Cost statement:-
standard direct cost of production
Variances:-
Labour Rate
Labour Eficiency
Labour Cost
Prepare the direct labour cost statement from the activity data provided
Budgetitems produced 18000 , budget 288000 hours, budget cost 1728000
Actual items produced - 17000, actual hours used 280500, actual costs 1626900
Direct Cost statement:-
standard direct cost of production
Variances:-
Labour Rate
Labour Eficiency
Labour Cost
0
Comments
I've attached a worksheet to try to help.
- Total 288,000 standard hours needed to make 18,000 units: 16 standard hours per unit
- £1,728,000 budgeted cost for 288,000 standard hours of labour: Standard rate per hour £6.00
Enter these standard amounts in the flexed columns[email protected]
www.sandyhood.com
See my answer to your other thread in the Diploma forum. I've just noticed that Sandy has answered the same question above. Either will give you the method to work out your labour variances. Material variances are calculated exactly the same way, just different units (price and kg rather than rate and hours), so you should be able to apply exactly the same method to answer your material questions. If you're still stuck come back.