the following information is available for the month of july 1 budget actual direct materials 200,000 201,285 direct labour 313,625. 337,500 variable manufacturing overhead 141,400. 143,000 fixed manufacturing overhead 64,400.

the following information is available for the month of july 1                                                                    budget         actual direct materials                                          200,000    201,285 direct labour                                               313,625.    337,500 variable manufacturing overhead             141,400.    143,000 fixed manufacturing overhead                  64,400.      69,500 variable sales overhead                              75,000.      71,000 admistation cost                                         150,000.    148650 2. standard costs were: direct labour 48,250 hours at $6.50 per hour direct materials 20,000 kgs at $10 a kg 3. actual manufacturing costs were: direct labour 50,000 hours at $6.75 per hour direct materials 18,900 kgs at $10.65 a kg 4. budgeted sales were 20,000 unitsa at $50 a unit actual sales were 15,000 units at $52 a unit 5200 units at $56 a unit 5. there was no work in progress or stock of finished goods. Required a) an accounting statement showing the budgted and actual gross and net profits or losses for july b) the following variances for july 1) direct materials cost variance, direct materials price varaince and direct materials usage varaiance. 2) direct labour cosr variance, direct labour rate variance and direct efficiency varaiance c) what use can the management of borrico ltd make of the variances calculated in (b) above?

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