The following information is available for Simply Ltd. which is a company that uses standard costs.

Product ZZ 48 for month 11 of last year:

WAGES

Rate 1 Rate 2

Standard Cost 400 hours at £5 per hr 200 hours at £8 per hr

Actual Cost 390 hours at £4 per hr 300 hours at £9 per hr

MATERIALS

Month 11 Grade A Grade B

Standard Cost 100 Kgs at £20 per kg 250 Kgs at £10 per kg

Actual Cost 120 Kgs at £19 per kg 260 Kgs at £8 per kg

REQUIRED

(a) Calculate and analyse the total variance for the month between:

(i) Material price, material usage and material cost variances.

(ii) Labour rate, labour efficiency and labour cost variances.

I have worked this out in my own way..but i think it is wrong..can somebody help me answering this? Thanks very much to whoever answers this.