Homework Answers
| Material Cost Variance = Standard Cost - Actual cost | |
| Standard cost = Standard quantity for actual production * Standard price(SQ*SP) | |
| Actual cost = Actual quantity * Actual price (AQ*AP) | |
| Standard quantity for actual production (80*25) | 2000 |
| Standard price | 2 |
| Actual quantity used (3000-500) | 2500 |
| Actual Price (9000/3000) | 3 |
| Material Cost Variance = (SQ*SP) -(AQ*AP) | |
| Material Cost Variance = (2000*2) -(2500*3) | |
| Material Cost Variance = 4000 -7500 | |
| Material Cost Variance = 3500(A) | |
Answer II)
| Material Price Variance = (SP -AP)AQ |
| Material Price Variance = (2 -3)2500 |
| Material Price Variance = 2500(A) |
Answer III)
| Material Usage Variance = (SQ -AQ)SP |
| Material Usage Variance = (2000 -2500)2 |
| Material Usage Variance = 1000(A) |
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From the following information calculate i material cost variance (ii) material price variance (iii) Material Usage...
From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material...
From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material Usage variance Quantity of material purchased 3000 units Value of material purchased AED. 9000 St. quantity of raw material req. p.u. 25 units Standard rate of material unit AED 2 per Nil Opening stock of material Closing stock of material 500 units Finished production during the period 80 units
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All I need is the Materials Price Variance for Material A & B... thanks! Standard cost...
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From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material Usage variance Quantity of material purchased 3000 units Value of material purchased AED. 9000 St. quantity of raw material req. p.u. 25 units Standard rate of material unit AED 2 per Nil Opening stock of material Closing stock of material 500 units Finished production during the period 80 units
1. A furniture company uses sunmica tops for tables. It provides the following data: St. Quantity for sunmica per table 4 sq.ft St. price per sq. ft of sunmica AED 5 Actual prod. Of tables 1000 Sunmica actually used 4,300 sq.ft Actual purchase price per sq. ft AED 5.50. You are required to calculate Material variances. 2. From the following information calculate (i) material cost variance (ii) material price variance (iii) Material Usage variance Quantity of material purchased 3000 units...
All I need is the Materials Price Variance for Material A
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