Determine the total material cost and total labour cost

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Question - The following information is for Delay Company's July production: Standards: Actual: Material: 3.0 feet per unit @ GH¢4.20 per foot, Labour: 2.5 hours per unit @ GH¢7.50 per hour. Production: 2,750 units produced during the month, Material: 8,700 feet used; 9,000 feet purchased @ GH¢4.50 per foot, Labor: 7,000 direct labour hours @ GH¢7.90 per hour. (Round all answers to the nearest cedi.). Determine the total material cost and total labour cost variance, separating them into their corresponding price and quantity variances. Show all workings clearly.

Reference no: EM132926912

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