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The standard material input required for 1,000 kgs. of a finished product are given below: Material Quantity (Kg) Standard Rate (per Kg) A 450 20

The standard material input required for 1,000 kgs. of a finished product are given below:

Material

Quantity (Kg)

Standard Rate (per Kg)

A

450

20

B

400

40

C

250

60

1100

Standard loss

100

Standard Output

1000

Actual production in a period was 20,000 kg. of finished product for which the actual quantities of material used and the prices paid therefore were as under:

Material

Quantity (Kg)

Standard Rate (per Kg)

A

10000

19

B

8500

42

C

4500

65

Calculate (i) Material cost variance; (ii) Material price variance; (iii) Material usage variance; (iv) Material yield variance.

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