$20\mathrm{.}80$

Standard Costing and Variance Analysis

Practical Questions

In a factory, standard estimates for material for the manufacture of $1,000$ units of product $Z$ is $400kgs$ at $2\mathrm{.}50$ per $kg.$ When $2,000$ units of product $Z$ are produced it is found that $825kgs$ of materials are consumed at $2\mathrm{.}70$ per $kg.$ Calculate material variances.