Standard Costing

Unswick Fisheries catch and process crabs.
There are four employees processing and dressing the crabs which are then supplied to
local markets.
The time allowed to dress and prepare a crab is 3 standard minutes. Each employee works
a standard 35 hour week, although overtime is often worked. The standard labour rate per
hour is $6.20.
The standard material cost per crab is $1.30 but not all the crabs processed, i.e. dressed,
meet the quality standard as wastage occurs.
The budgeted fixed cost for the month is $3,750. For the month of August 20X1, its
budgeted output was 12,000 ‘dressed crabs’, or 3,000 units per week.
During the week ending 18 August 20X1:
• 3,050 crabs were dressed satisfactorily but 3,110 were used.
• The actual cost of the crabs was $4,354.
• The actual hours worked were 162.
• The actual cost of labour for the period was $1,021.
• The fixed overheads incurred were $990.

Required:
Calculate the following for the week ending 18 August 20X1 (assume 4 weeks in a month):
(a) The standard hours
(b) The budgeted hours
(c) The direct material price variance.
(d) The direct material usage variance
(e) The direct labour rate variance.
(f) The direct labour efficiency variance.
(g) The fixed overhead expenditure variance.
(h) The fixed overhead capacity variance.
(i) The fixed overhead efficiency variance