Illustration I From the following data compute the Material Cost Variances: The following information has been extracted from the records of a chemical company: StandardpriceStandardmix(byweight)StandardyieldRawmaterialA-2perkg.;RawmaterialB-10perkg.A:75%B:25%90% In a period, the actual costs, usages and output were as follows: UsedOutput2,200kgs.ofA,costing4,650;800kgs.ofB,costing7,8502,850kgs.ofproducts211369.8125 Calculate material cost variances