Question

xyz Ltd. purchased 6850kgs. of material for rs.21,920. The material price variance was rs. 1370(f) . the standard price per kg was​

Answer 1

Explanation:

Given xyz Ltd. purchased 6850 kgs. of material for rs.21,920. The material price variance was rs. 1370(f) . the standard price per kg was

• So Price Variance is given by
•         Price variance = Total standard cost of material purchased – actual cost of material purchased.
•               So total standard cost = Price variance + actual cost of material purchased.
•                                                       = Rs 1370 + Rs 21,920
•                                                         = Rs 23,290
• Now we need to find the standard price per kg.
•         So for 6850 kgs cost of material is Rs 23,290
•     Therefore Standard price per kg will be 23,290 / 6850
•                                                                        = Rs 3.4  

Reference link will be

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