Question: Lido Company's standard and actual costs per unit for the most recent period, during which 400 units were actually produced, are given below:
From the above information, compute the following variances. Show whether the variance is favourable (F) or unfavourable (U):
a) Materials price variance
b) Materials quantity variance
c) Direct labour rate variance
d) Direct labour efficiency variance
e) Variable overhead spending variance
f) Variable overhead efficiency variance