Calculate the materials variances from the following data: (i) Material A: Standard price per tonne 10 Standard
Question:
Calculate the materials variances from the following data: (i) Material A: Standard price per tonne £10 Standard usage per unit 30 tonnes Actual price per tonne £9 Actual usage per unit 35 tonnes (ii) Material B: Standard price per metre £15 Standard usage per unit 60 metres Actual price per metre £16 Actual usage per unit 54 metres (iii) Material C: Standard price per metre £24 Standard usage per unit 30 metres Actual price per metre £28 Actual usage per unit 38 metres (iv) Material D: Standard price per roll £20 Standard usage per unit 31 rolls Actual price per roll £18 Actual usage per unit 28 rolls (v) Material E: Standard price per kilo £4 Standard usage per unit 280 kg Actual price per kilo £5 Actual usage per unit 310 kg (vi) Material F: Standard price per litre £75 Standard usage per unit 5,000 litres Actual price per litre £66 Actual usage per unit 4,950 litres
Step by Step Answer:
Frank Woods Business Accounting Volume 2
ISBN: 9780273767923
12th Edition
Authors: Frank Wood, Ph.D. Sangster, Alan