Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

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

More Books

Students also viewed these Accounting questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

Describe organized labors strategies for a stronger movement.

Answered: 1 week ago

Question

Explain the nature and role of safety, health, and wellness.

Answered: 1 week ago

Question

Identify the steps that lead to forming a bargaining unit.

Answered: 1 week ago