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Question
3
: 10 Marks
Kopecky Inc., which produces a single product, has prepared the following standard cost sheet for
one unit of the product:
Direct materials (6 kg at $2.50 per
kilogram)
$15.00
Direct labour (3.1 hours at $12 per hour)
$37.20
During the month of April, the company manufactures 250 units and incurs the following actual
costs:
Direct materials purchased and used (1,600 kg)
$4,192
Direct labour (760 hours)
$8,740
Required:
Calculate the total, price, and quantity variances for materials and labour
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