Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

provide answer with every step asap The Standard Cost of Chemical mixture 'PQ' is as follows: 40% of material P @ Rs.400 per kg. 60%

image text in transcribed

provide answer with every step asap

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, 2004. 180kgs of material P have been used @ Rs.680 per kg 220kgs of material Q have been used @ Rs.360 per kg. The actual of production of 'PQ' was 369kgs. Calculate the following variances: a) Material Price Variance b) Material Usage Variance c) Material Mix Variance d) 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

Auditing And Other Assurance Services

Authors: Alvin Arens, James Loebbecke, W Lemon, Ingrid Splettstoesser

9th Canadian Edition

0130091243, 978-0130091246

More Books

Students also viewed these Accounting questions

Question

1. How does journalizing differ from posting?

Answered: 1 week ago

Question

Did you include SEC required financial data?

Answered: 1 week ago