Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 2 direct material and labour variance: ma

Question 2 Direct Material and Labour Variance: Manufacturer 10 marks During September, Wonderland Ltd material...

80.2K

Verified Solution

Question

Accounting

image

Question 2 Direct Material and Labour Variance: Manufacturer 10 marks During September, Wonderland Ltd material purchases amount to 7,000 kilograms at a price of $8.00 per kg. Actual costs incurred in the production of 2,700 units were as follows: Direct labour Direct material $118,611 $51,000 $19.10 per hour $8.00 per kilogram The standard for one unit of product is as follows: Direct Labour Direct material Quantity 2.5 hours per unit 2.5 kilograms per unit Price/Rate $21 per hour S7 per kilogram Required: Calculate the following variance, indicating whether each variance is favorable or unfavorable: (a) Direct material price variance. (2 % marks) (b) Direct material quantity variance. (2 % marks) (c) Direct labour efficiency variance. (2 marks) (d) Direct labour rate variance. (2 % marks) 2

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

Statistics
1.2K views

Does a statistics course improve a student's mathematics skills,as measured by a national test? Suppose a...

Physics
1.2K views

Astronauts on a distant planet toss a rock into the air. With the aid of a...

Basic Math
1.2K views

Let p and q be the propositions p The election is decided q The votes...

Algebra
1.2K views

Question 19 1 point E Listen Which general form of the following equations would represent...

Accounting
1.2K views

Problem 4-5A (Algo) Preparing financial...

Accounting
1.2K views

After completing a return using a tax software program, you review the return and...

Accounting
1.2K views

What is the first step in restoring data from a backup irrespective of the backup...

Accounting
1.2K views

A company reported income tax payable of $79,500, an increase of $7,900 in its deferred...

Accounting
1.2K views

El 31 de diciembre, Strike Company decidi descartar una de sus jaulas de bateo. El...

Accounting
1.2K views

QUESTION: Dolar Inc. manufactures robots which vacuum your home. Normal production is 19,900 robots per...

Accounting
1.2K views

need help asap! thanks Open the spreadsheet from the link betow to...

Accounting
1.2K views

Which of the following is true regarding the IRS Annual Filing Season Program? A: requires...