The standard cost per unit of a product are as follows:
|
|
|
|
Material cost – 5 kg @ Rs. 10 per kg |
50 |
|
Labour cost – 4 hrs @ Rs. 5 per hr |
20 |
|
The Actual Cost emerged from the business operation are as follows: |
|
|
Production |
5,000 units |
|
Materials Consumed: |
|
|
30,000 kg @ Rs. 8 per kg |
Rs. 2,40,000 |
|
Wages Paid: |
|
|
25,000 hrs @ Rs. 6 per hr |
Rs. 1,50,000 |
Calculate MCVs and LCVs.