Extra MTQs

When we open F2 paper website page or click on it in opentution.com…we see
these followings first:

F2-Management Accounting (Full Exam) | F2 (Full Exam) Answers

F2-Management Accounting (Extra MTQs) | F2 (Extra MTQs) Answers

Paper F2 Examiner’s Reports

F2 Examiner’s approach interview

Computer-based exams – preparing for the experience

I am talking about one of these options.I hope you can understand now.

Thanks.But i have some problem to solve few questions in extra MTQs.Would you solve those questions?

Prancer Co uses standard costing to control its costs and revenues.A standard cost card for its only product is given below together with a standard cost operating statement for last month:

Standard cost card
$per unit
Selling price $per unit(150)
Direct materials 2kg@$25/kg $per unit(50)
Direct labour 3 hours@$10 per hour $per unit(30)
Fixed overhead 2 hrs@$10 per hr $per unit(20)
profit -50

Standard cost operating statement
$
Budgeted profit -600000
Sales volume variance -60000(a)
Standard profit on actuals sales -540000
Sales price variance -20000(f)
560000
Production cost variances:

Material price -7500(f)
Material usage -8000(a)
labour rate -2000(a)
Labour efficiency -500(f)
Fixed overhead expenditure -7000(a)
Fixed overhead volume -2000(a)
Total-19000(a) -8000(f)
11000(a)
actual profit -549000
Question1.How much production was less or more than budgeted?

Question02.Materials caused the biggest cost variance,where a decision to pay (less or more than) standard price resulted in the company using (320 kg more than original,320kg less than original,320kg more than flexed,320kg less than flexed) budget.

Thanks a lot…..