Question 4 - Week 8 (11b) (7 marks) The data below relate to the standards...
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Question 4 - Week 8 (11b) (7 marks) The data below relate to the standards for the sole product of Marshal Corporation in August: Standard direct material price $1.40 per kg Standard quantity of direct material 20 kg per unit Standard direct labour rate $17.00 per hour Standard direct labour hour 5 hours per unit Actual results for November are as follows: Actual output 1,100 units Direct material purchased 36,000 kg @ $1.76 per kg Direct material used 19,000 kg Direct labour 5,200 hours @ $18 per hour Required: Calculate the following variances, indicating whether each variance is favourable or unfavourable: (i) Direct material price variance (ii) Direct material quantity variance (iii) Direct labour rate variance (iv)Direct labour efficiency variance SHOW YOUR WORKING 4
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