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I've an accounting assessment tomorrow and I've no idea how to prepare a variance analysis,...

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Accounting

I've an accounting assessment tomorrow and I've no idea how to prepare a variance analysis, the notes I have are useless. If you help explain how you got each number id appreciate it. Thank you in advance.

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(a) For all of the following jobs calculate the Labour Rate and Efficiency Variances for each job: Standard hours Standard wage Actual Wage rate Actual hours rate Job Alpha Job Beta Job Gamma Job Delta 800 650 335 660 780 640 354 680 14.50 16.40 18.20 13.60 14.95 16.65 18.60 13.30 () et (12 Marks) (b) (c) ( You are given the following information from AA Limited, and are required to calculate the Material Price and Usage variances from the data: Standard cost of Direct Materials (30 kgs @ 18 per kg) per unit 540 Actual costs Direct Materials (34,900 kgs) 631,690 Budgeted Production for the period 1,200 units Actual Production for the period 1,175 units (8 Marks) You are given the following information from BSM Limited, and are required to calculate the Sales Price and Volume variances from the data: Budget Selling Price per unit 80 Actual Sales Revenue 716,850 Standard Cost per unit 55 Budgeted Sales for the period 9,000 units Actual Sales for the period 8,850 units (10 Marks) (Total 30 Marks)

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