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Calculate the direct material and direct labor variances

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Reference no: EM132540708

Actual:

Units                                    1000

Direct material purchased         13 000 kilograms @ $1.6 per kilogram

Direct material used                 10 000 kilograms

Direct labour                            2 000 hours @ $20 per hour

Standards:

Direct material 11 kilograms @ $1.5 per kilogram

Direct labour hours 2.5 hours @ $15 per hour

Question 1: How to use Excel file to calculate the direct material and direct labor variances for the above question? Use Excel formulas to determine whether each variance is favorable or unfavorable.

Reference no: EM132540708

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