Lido Company's standard and actual costs per unit for the most recent period,during which 400 units were actually produced,are given below:
There were no inventory of materials at the beginning or end of the period.
Required:
From the above information,compute the following variances.Show whether the variance is favourable (F)or unfavourable (U):
a)Materials price variance
b)Materials quantity variance
c)Direct labour rate variance
d)Direct labour efficiency variance
e)Variable overhead spending variance
f)Variable overhead efficiency variance
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