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The material cost record of Bias Company showed the following information. Actual Standard Standard Material Result Quantity Price One unit of Grinding motor 10 kgs

The material cost record of Bias Company showed the following information.

Actual Standard Standard

Material Result Quantity Price

One unit of Grinding motor 10 kgs Rs.7 per kg

Actual Grinding motor produced 5,000 units

Actual material purchased 58,300 kgs

Actual material costs Rs.424,700

Required:

Material purchase price variance

Material quantity variance

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