From the following particulars, calculate: (a) Material-cost variance; (b) Material-price variance and (c) Material-usage variance. Quantity of
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From the following particulars, calculate:
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(a) Material-cost variance; (b) Material-price variance and (c) Material-usage variance. Quantity of materials purchased 3,000 units. Value of materials purchased Standard quantity of material Rs. 9,000. required per tonne of finished product 25 units. Standard rate of material Rs. 2 per unit. Opening stock of raw material Nil. Closing stock of raw material 500 units. Finished production 80 tonnes
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