you are required to compute the mcvs and lcvs and also to reconcile the standard and 621615

The following details relating to the Product A during the month of March 2002 are available. You are required to compute the MCVs and LCVs and also to reconcile the standard and the actual cost with the help of such variances.

Standard Cost per unit:
Materials	50 kg @ Rs. 40 per kg
Labour	400 hrs @ Re. 1 per hr
Actual Cost for the month:
Materials	4,900 kg @ Rs. 42 per kg
Labour	39,600 hrs @ Rs. 1.10 per hr

Actual production for the month is 100 units.