Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 10 [8 marks] refreshers limited specialis

Question 10 [8 Marks] Refreshers Limited specialises in making fresh juices by hand with organic...

70.2K

Verified Solution

Question

Accounting

image
Question 10 [8 Marks] Refreshers Limited specialises in making fresh juices by hand with organic fruits. The company has developed the following standard costs: Standard Standard quantity or price or hours rate Direct material 1.3 kg $6.00 per litre Direct labour 0.6 hours $19.00 per hour Variable overhead 0.6 hours $3.00 per hour During April, Refreshers Limited made 4,100 bottles of fresh juice and used 5,380 kg of direct material and 2,740 direct labor-hours. In total, 6,000 kg of direct material was purchased during the month at $5.80 per kg. The actual direct labor rate was $19.80 per hour and the actual variable overhead rate was $2.90 per hour. Variable overhead is applied based on direct labor-hours. Compute the following: A) Labour efficiency variance B) Labour rate variance C) Variable overhead rate variance D) Variable overhead efficiency variance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students