Homework Answers
(1) a. Material Price Variance = (Standard Rate of Material - Actual rate of Material) x Actual Quantity
= ( $2 - $ 2.10) x 11400
= 1140 Unfavourable
b. Material Quantity Variance = (Standard Quantity of Material - Actual Quantity of Material) x Standard Rate of Material
= (11000 - 11400 ) x $ 2
= 800 Unfavourable
c. Total Material Variance = Material Price Variance + Material Quantity Variance
= 1140 Unfavourable + 800 Unfavourable
= 1940 Unfavourable
(2) a. Labour Price Variance = (Standard Rate of Labour - Actual rate of Labour) x Actual Labour Hours
= ( $165680 / 15200 hours - $ 169860 / 14900 hours) x 14900 hours
= ($10.9 - $11.4) x 14900
= 7450 Unfavourable
b. Labour Quantity/Efficency Variance = (Standard Hours of Labour - Actual Hours of Labour) x Standard Rate of Labour
= (15200 - 14900) hours x $ 10.9
= 3270 Favourable
c. Total Labour Variance = Labour Price Variance + Labour Quantity/Efficency Variance
= 7450 Unfavourable + 3270 Favourable
= 4180 Unfavourable
3. Total Manufacturing Overhead Variance = Manfacuring Overhead absorbed - Manfacuring Overhead Incurred
= $ 214320 - $ 211720
= $ 2600 Favourable
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