Question

Standard cost of material for the given quantity of output is Rs.15000, while the actual cost of material used is Rs.16200. The material cost variance. is:

Rs.16200

Rs.31200

RS.1000

Rs.1200

Rs.15000​

Answer 1

Answer:

31200 the answer is pls give me

Answer 2

The material cost variance is (₹1200).

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  variance, these are used by the companies to bridge these gaps.

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 by multiplying standard quantity and rate by actual quantity and rate.

Given: Standard cost of material for the given quantity of output is Rs.15000, while the actual cost of material used is Rs.16200.

To Find: Material cost variance

Formula:

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

Solution:

Material cost variance = 15000-16200

                                   = (₹1200).

Thus, the Material cost variance is (₹1200).