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Problem 4 Ascertain the following variances with the given information (a) Material Price variance (b) Material wage variance (c) Material Cost Variance. Quantity of materials
Problem 4 Ascertain the following variances with the given information (a) Material Price variance (b) Material wage variance (c) Material Cost Variance. Quantity of materials purchased 3,000 units purchase value of Materials Rs. 9,000 Standard quantity required for materials per ton of finished product 25 units Standard rate of material Rs. 2 per ton Opening stock of Materials nil Closing stock of Materials 400 units
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