Question

dlars find out : (a) Material price variance. (b) Mate
ial cost variance.
Quantity of material purchased
Value of material purchased
Standard quantity of material required per tonne of finished product
Standard rate of material
Opening stock of material
Closing stock of material
Finished production during the year
Also explain the possible causes of these variances.
[Material Price Variance = Rs. 2,500 Adverse : Material Usage Vari
Material Cost Variance = Rs. 3,500 Adverse]
A manufacturing concern which has adopted standard costing furnishe
Standard :
Material for 70 kg, finished product
Price of material​

Answer 1

Answer:

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