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I have to submit my assignment in 30min, please me to solve it.
(b) Dawson Toys, Ltd., produces a toy called the Maze. The company has recently estab- lished a standard cost system to help control costs and has established the following standards for the Maze toy: [6] Direct materials: 6 microns per toy at Tk. 0.50 per micorn Direct labor: 1.3 hours per toy at Tk. 8 per hour During July, the company produced 3,000 Maze toys. Production data for the month on the toy follow: Direct Materials: 25,000 microns were purchased at a cost of Tk. 0.48 per micron. 5,000 of these microns were still in inventory at the end of the month. Direct labor: 4,000 direct labor-hours were worked at a cost Tk. 36,000. 1 Required: i) Compute the following variances for July. ii) Direct materials price and quantity variances. iii) Direct labor rate and efficiency variances. iv) Prepare a brief explanation of the possible causes of each variance
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