Parker Manufacturing Ltd. manufactures a Chemical product with three ingredient chemicals A, B and C as per standard data given below: Percentage standard of total cost per kg Chemical input (Rs) A 50% 40 B 30% Cs 20% 90 There is a process loss of 5 percent during the course of manufacture. The management gives the following details for a certain week: 55 Chemical consumed A B Quantity purchased and issued 5200 kg 3600 kg 1700 kg Actual cost (Rs) 2.34.000 2,19,600 1,58,100 Output of Finished product: 10, 200 kg Questions: Q Calculate Material cost variance. Q Calculate Material Price variance and Material Mix Variance