American Velvet Company produces lightweight equipment.

You are given following

information from the cost data for October 2015. The standard cost of direct material and
direct labor per unit of output includes 200 kg of direct materials at budgeted price of Rs.
10 per kg and 50 hours of direct labor at Rs. 60 per hour.

Actual units of material used 300,000 kg

DM cost variance Rs. 5,25,000(U)
Direct Material Usage Variance Rs. 6,00,000(U)
Direct Labor Usage Variance Rs. 240,000 (U)
Direct Labor Rate Variance Rs. 640,000 (U)

Calculate following and wherever applicable indicate clearly favorable (F) or

unfavorable (U):

Actual Production _______________

Material price variance _______________

Actual material cost incurred _______________

Actual price per unit of raw material ________________

Actual direct labor cost for the month ________________

Actual direct labor hours ________________