A manufacturing company has set a standard price for materials of 100 per kilo and anticipates that
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A manufacturing company has set a standard price for materials of £100 per kilo and anticipates that it will make 4 units from 1 kilo of materials. The actual production is 200 units and 52 kilos of materials are used at a price of £98 per kilo. Calculate all the materials variances and discuss the possible reasons for them.
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Related Book For 
Business Accounting An Introduction To Financial And Management Accounting
ISBN: 9780230276239
2nd Edition
Authors: Jill Collis, Roger Hussey, Andrew Holt, Holt Collis, J. Collis
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