__Question 1__Standard Cost for Product RBT

£ | |

Materials (10kg x £8 per kg) | 80 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

195 |

Budgeted Results | |

Production | 10000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 8000 units |

Sales | 6000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 2**

Standard Cost for Product TUH | |

£ | |

Materials (10kg x £8 per kg) | 80 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

195 |

Budgeted Results | |

Production | 11000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 9000 units |

Sales | 7000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £410000 |

Fixed O/Hds | £520000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 3**

Standard Cost for Product TD | |

£ | |

Materials (10kg x £5 per kg) | 50 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

165 |

Budgeted Results | |

Production | 8000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 11000 units |

Sales | 10000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £320 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 4**

Standard Cost for Product WXYZ | |

£ | |

Materials (4kg x £8 per kg) | 32 |

Labour (5hrs x £10 per hr) ¬ | 50 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £6 per hr) | 30 |

152 |

Budgeted Results | |

Production | 10000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 8000 units |

Sales | 6000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

__Question 5__Standard Cost for Product RTY | |

£ | |

Materials (10kg x £8 per kg) | 80 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

195 |

Budgeted Results | |

Production | 13000 units |

Sales | 10000 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 12000 units |

Sales | 9000 units |

Materials | 90000 kg Cost £750000 |

Labour | 40000 hrs Cost £350000 |

Variable O/Hds | £500000 |

Fixed O/Hds | £600000 |

Selling Price | £350 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

__Question 6__Standard Cost for Product RED | |

£ | |

Materials (10kg x £7 per kg) | 70 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

185 |

Budgeted Results | |

Production | 10500 units |

Sales | 7800 units |

Selling Price | £310 per unit |

Actual Results | |

Production | 8500 units |

Sales | 6200 units |

Materials | 87000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £550000 |

Selling Price | £270 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 7**

Standard Cost for Product BUZZ | |

£ | |

Materials (3kg x £8 per kg) | 24 |

Labour (5hrs x £10 per hr) ¬ | 50 |

Variable O/Hds (5hrs x £9 per hr) | 45 |

Fixed O/Hds (5hrs x £10 per hr) | 50 |

169 |

Budgeted Results | |

Production | 10000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 8000 units |

Sales | 6000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 8**

Standard Cost for Product RST | |

£ | |

Materials (10kg x £20per kg) | 200 |

Labour (5hrs x £16 per hr) ¬ | 80 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

365 |

Budgeted Results | |

Production | 1000 units |

Sales | 7500 units |

Selling Price | £800 per unit |

Actual Results | |

Production | 8000 units |

Sales | 6000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 9**

Standard Cost for Product FGT | |

£ | |

Materials (10kg x £8 per kg) | 80 |

Labour (5hrs x £6 per hr) ¬ | 30 |

Variable O/Hds (5hrs x £8 per hr) | 40 |

Fixed O/Hds (5hrs x £9 per hr) | 45 |

195 |

Budgeted Results | |

Production | 10000 units |

Sales | 7500 units |

Selling Price | £300 per unit |

Actual Results | |

Production | 13000 units |

Sales | 6000 units |

Materials | 85000 kg Cost £700000 |

Labour | 36000 hrs Cost £330900 |

Variable O/Hds | £400000 |

Fixed O/Hds | £500000 |

Selling Price | £260 per unit |

**Calculate**

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance

**Question 10**

Standard Cost for Product White Diamond | |

£ | |

Materials (7kg x £9 per kg) | 63 |

Labour (6hrs x £9 per hr) ¬ | 54 |

Variable O/Hds (6hrs x £6 per hr) | 36 |

Fixed O/Hds (6hrs x £7 per hr) | 42 |

195 |

Budgeted Results | |

Production | 12500 units |

Sales | 8500 units |

Selling Price | £500 per unit |

Actual Results | |

Production | 15000 units |

Sales | 8000 units |

Materials | 8750 kg Cost £85000 |

Labour | 5200hrs Cost £52900 |

Variable O/Hds | £25500 |

Fixed O/Hds | £84000 |

Selling Price | £600 per unit |

- Material total variance
- Material price variance
- Material usage variance
- Labour total variance
- Labour rate variance
- Labour efficiency variance
- Variable overhead total variance and all sub- variances
- Fixed Production overhead total Variance and all sub-variances
- Selling price variance
- Sales volume variance