Question: Rayan Ltd has provided the following information: Quantity (kg) Unit Rate (Rs.) Total (Rs.) Standard Material X 10 2 20 Material Y 20 3 60

Rayan Ltd has provided the following information: Quantity (kg) Unit Rate (Rs.) Total (Rs.) Standard Material X 10 2 20 Material Y 20 3 60 Material Z 20 6 120 Total 50 200 Actual Material X 5 3 15 Material Y 10 6 60 Material Z 15 5 75 Total 30 150 You are required to compute the following and interpret the result: a) Material cost variance b) Material price variance c) Material usage variance

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