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Q.2. A manufacturing concern which has adopted standard costing, furnished the following information: Actual: Output: 180,000 kg. Material used: 260,000 kg. Cost of material: SR

Q.2. A manufacturing concern which has adopted standard costing, furnished the following information:

Actual:

Output: 180,000 kg.

Material used: 260,000 kg.

Cost of material: SR 650,000

Standard:

Materials for 60 kg finished products: 90 kg.

Price of Materials: SR 3 per kg.

Calculate material price variance, material usage variance and material cost variance.

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