Homework Answers
| Statement showing Computations | ||||||
| Standard | Actual | |||||
| Particulars | Quantity | Rate | amount | Quantity | Rate | amount |
| Materials | 4,000.00 | 5.00 | 20,000.00 | 4,300.00 | 5.50 | 23,650.00 |
| Actual output | 1,000.00 | |||||
| Materials reqd (1000*4) | 4,000.00 | |||||
| Direct Material cost variance = Standard cost - Actual cost | ||||||
| DMCV = 20,000 - 23,650 | ||||||
| DMCV = 3,650 U | ||||||
| Direct Material Price Variance = (SP-AP)*AQ purchased | ||||||
| DMPV = (5 - 5.5)4300 | ||||||
| DMPV = 2,150 U | ||||||
| Direct Material Quantity Variance = (SQ-AQ)SP | ||||||
| DMQV= (4000 - 4300)*5 | ||||||
| DMQV= 1,500 U | ||||||
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