MCDL - Practice Assessment 2 - Task 2

aldo1812

Hi there,

I'm just wondering if someone can help with the below question, I have worked out some of it but could do with the workings as I'm still unsure about some of it. Thanks in advance

The information in the table below shows the budgeted variable costs for the manufacture of 250 barrels

cost per unit budgeted cost

Materials 36.00 9000
Direct Labour 22.50 5625
Variable overhead 10.50 2625
Total costs 17,250

actual production for the period was 300 barrels and the total variances were incurred as follows:


materials 1200 (F)
direct labour 390 (A)
Variable o/h 210 (F)

during the period the actual cost of material was £10 per kg and the standard quantity per unit was 3kg

420 actual hours were worked

the standard labour time per unit was 1.5 hours

complete the variance statements below

Materials:

actual material cost
material price variance
material usage variance
standard material cost of production

variable O/H

actual variable overhead cost
variable overhead expenditure variance
variable overhead efficiency variance
standard variable overhead cost of production