The standard cost of a chemical mixture is as follows: 40% material A 60% material B...
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The standard cost of a chemical mixture is as follows: 40% material A 60% material B at *20 per kg. at 30 per kg. A standard loss of 10% of input is expected in production. The cost records for a period showed the following usage: 90 kg material A 110 kg material B at a cost of 18 per kg. at a cost of *34 per kg. The quantity produced was 182 kg. of good product. Calculate Material Price Variance, Material Usage Variance and Material Cost Variance. The standard cost of a chemical mixture is as follows: 40% material A 60% material B at *20 per kg. at 30 per kg. A standard loss of 10% of input is expected in production. The cost records for a period showed the following usage: 90 kg material A 110 kg material B at a cost of 18 per kg. at a cost of *34 per kg. The quantity produced was 182 kg. of good product. Calculate Material Price Variance, Material Usage Variance and Material Cost Variance.
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Answer rating: 100% (QA)
To calculate the Material Price Variance Material Usage Variance and Material Cost Variance we can use the following formulas 1 Material Price Variance MPV MPV Actual Quantity Purchased Actual Price A... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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