Problem 10 The standard material input, required for 1,000 kgs of a finished product, are given below: Quantity Std rate per kgs Material (kgs) $ $ P 450 20 Q 400 40 R 250 60 Standard loss Standard output 1,100 100 1,000 Actual production in a period was 20,000 kgs of finished product for which the actual quantities of material used and the prices paid thereof were as under Material Quantities Purchase price per (Kgs) $ $ P 10,000 19 8,500 42 R 65 4,500 Calculate: (1) Material cost Variance (11) Material price Variance (III) Material usage variance (IV) Material Mix Variance (V) Material Yield Variance Present a reconciliation among the variances