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From the following particulars, find the (a) Material cost variance and (b) Material price variance. Quantity of material purchased 3,000 units Value of materials purchased
From the following particulars, find the (a) Material cost variance and (b) Material price variance.
Quantity of material purchased 3,000 units Value of materials purchased Rs 9,000 Standard quantity of material required per tonne of finished product: 30 units Standard rate of material Rs 2 per unit Opening stock of material Nil Closing stock of material 500 units Finished production during the period 80 tonnes
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