2 Question 2 (5 points) At the end of 2017 the records of XYZ company showed that the actual price of material number (A) was $10/kg; the budget one was $7/kg, the actual quantity was 250,000kg and the budget one was 235,000kg. Instruction: calculate the variances of material: 1- Price variance: (2 point) 2- Efficiency variance: (2 point) 3- Total variance: (1 point) Accounting Finance and Banking Department ||

Question 2 (5 points) At the end of 2017 the records of XYZ compeny showed that the actual price of material number (A) was $10/kg; the budget one was 57/kg, the actual quantity was 250,000kg and the budget one was 235,000kg. Instruction: calculate the variances of material: 1- Price variance: (2 point) 2. Efficiency variance: (2 point) 3- Total variance: (1 point)