27. The standard set for material consumption was 100 kg @ 3.25 per unit. In a cost period: Opening stock was 100 kg e3.25 per unit. Purchases made 500 kg e73.15 per unit. Consumption 110units Calculate: a)Usage Variance b)Price Variance 1) When variance is calculated at point of purchase 2) When variance is calculated at point of issue on FIFO basis 3) When variance is calculated at point of issue on LIFO
27. The standard set for material consumption was 100 kg @ 3.25 per unit. In a cost period: Opening stock was 100 kg e3.25 per unit. Purchases made 500 kg e73.15 per unit. Consumption 110units Calculate: a)Usage Variance b)Price Variance 1) When variance is calculated at point of purchase 2) When variance is calculated at point of issue on FIFO basis 3) When variance is calculated at point of issue on LIFO
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter18: Pricing And Profitability Analysis
Section: Chapter Questions
Problem 32P: Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows:...
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