The following is the data provided in the assignment:
Actual Sales Volume for the quarter.
The actual volume of direct materials used during the quarter.
The actual cost of the direct materials used during the quarter.
The actual direct labour hours used during the quarter.
The actual cost of direct lavour used during the quarter. Could someone please help me out with carrying out variance analysis pertaining to direct materials and direct labour as required in this question? Are there any
calculations I need to do and templates I need to prepare? Please advise.