Question

calculate material cost variance of SQ=800,SR=10,AQ=900,AR=9​

Answer 1

Answer:

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Explanation:

4x 7 28y

Answer 2

Material cost variance is (₹100).

Definition of variance:

The variance is calculated to know the difference between the estimated figures and actual figures, the gap between these two figures is known as a variance.

What is Material cost variance:

The material cost variance is calculated to find the difference between the estimated cost and actual cost, this is calculated to know the amount of gap and reasons behind it.

Given: SQ=800, SR=10, AQ=900, AR=9​

To Find: Material cost variance

Formula:

Material cost variance = standard quantity* standard rate - actual quantity* actual rate.

Solution:

Material cost variance = 800*10 - 900*9

= 8000- 8100

= (₹100)

Thus, the material cost variance according to the given information will be (₹100).