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Question 7 (12 marks) Bright Electric Company Limited manufactures electric table lamps The standard cost specification sheet(ii) Direct material quantity variance. (1 mark) (iii) Direct labour rate variance. (1 mark) (iv) Direct labour efficiency va(vi) Variable overhead efficiency variance. (1 mark) (vii) Fixed overhead budget and volume variances. (3 marks) (viii) Favou

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Direct Matenial Porice vaian ce Actual Puice A ctual Quandi dy ( Std. Perce- = 2046 ( 14- 1529) I046 x 199 (Aduerse) = 2639.V)Direct Quandisty vaniance Actual buanting) Std. Piice g14/1800 t529 14 (846) (3444) (Advense) * Steli Quandidy for actyal o

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