Exercise 1 The manufacturer planned material consumption values in his company and then found out the actual consumption values. Item Unit Price Material consumption Kg CZK / kg Planned situation 300 15 Actual situation 320 16 1. Calculate the actual cost 2. Calculate the planned costs 3. Calculate the total cost variance in monetary units. 4. Calculate how the price increase contributed to the total variance (price variance) 5. Calculate how consumption growth contributed to the total variance (quantity variance) Exercise 2 Item Unit Price Material consumption Kg CZK / kg Planned situation 50 20 Actual situation 48,65 18,5 Consumption of working time Hours CZK / hour Planned situation 25 60 Actual situation 24 62,5 Sale of products Pcs (pieces) CZK / pcs Planned situation 100 100 Actual situation 90 100 All resulting values will be rounded. 1. Calculate the material variance and how price growth and consumption growth contributed to this variance. 2. Calculate the wage variance, and how price growth (wage rates) and how labor time consumption growth contributed to this variance. 3. Calculate the variance in sales, and how price growth and sales growth contributed to this variance.