Anyone know how to calculate materials


Materials Standard Cost Actual Cost

Standard:4m at 5.40 per m 21.60

Actual : 4.4m at 5.05 per m 22.22

Direct Labour

Standard: 1.6hours at 6.75/hr 10.80

Actual:1.4hrs at 7.30hr 10.22

Variable Overhead

Standard: 1.6 hrs at 2.70/hr 4.32

Actual: 1.4 hrs at 3.25/hr 4.55

Total Cost 36.72 36.99

Company produced 4800 units of product.

Anyone know how to calculate materials price and quantity variance, labour and efficiency variance, as well as the variable spending and efficiency variances?


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