Materials Standard Cost Actual Cost
Standard:4m at 5.40 per m 21.60
Actual : 4.4m at 5.05 per m 22.22
Standard: 1.6hours at 6.75/hr 10.80
Actual:1.4hrs at 7.30hr 10.22
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?