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The standard quantity and standard price of raw materials required for one unit of product a are given as follows: Material Quantity Selling price X
The standard quantity and standard price of raw materials required for one unit of product a are given as follows:
Material | Quantity | Selling price |
X | 2kg | $3 per kg |
Y | 4kg | $2 per kg |
The actual production and relevant data are as follows: Output for product A is 500 units
Material | Total Quantity for 500 units | Total cost ($) |
X | 1,100kg | 3410 |
Y | 1,800kg | 3960 |
Required: Calculate
- Material cost variance
- Material price variance
- Material usage Variance
- Material mixture variance
- Material Yield variance
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