Practical Example 1 The standard cost of material of product C for the third quarter of 20.6 was: 4 kg per unit at R3 per kg 45 000 kg of material was purchased at R2,80 for the third quarter. The actual production of product C for the third quarter of 20.6 was: 9 000 units which took 37 000 kg of material Required: In respect of materiall, calculate the following variances: 1. Purchase Price Varieance 2. Issue Price Variance 3. Quantity Variance 4. Total material variance for the 37 000 kg of material issued