Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please find the variances with verification The standard cost of chemical mixture ~ PQ' is as follows: 40% of material P @ Rs. 400 per

Please find the variances with verification

image text in transcribed
The standard cost of chemical mixture ~ PQ' is as follows: 40% of material P @ Rs. 400 per kg. 60% of material Q @ Rs. 600 per kg. A standard loss of 10% is normally anticipated in production. The following particulars are available for the month of March, 2005. 180 kgs of material P have been used @ Rs. 680 per kg. 220 kgs of material Q have been used @ Rs. 360 per kg. The actual of production of 'PQ' was 369 kgs. Calculate the following variance: a) Material Price Variance b) Material Usage Variance c) Material Mix Variance (1) Material Yield Variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial & Managerial Accounting

Authors: Carl Warren

12th Edition

1285534646, 978-1133952428

More Books

Students also viewed these Accounting questions

Question

Behaviour: What am I doing?

Answered: 1 week ago