An adverse materials price variance of £1,001 has been reported for the period. Actual expenditure on materials was £20,251 and 1,540 kg were purchased. What must be the standard cost per kg? £13.15 £13.50 £12.50 £13.80

An adverse materials price variance of £1,001 has been reported for the period. Actual expenditure on materials was £20,251 and 1,540 kg were purchased. What must be the standard cost per kg? £13.15 £13.50 £12.50 £13.80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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An adverse materials price variance of £1,001 has been reported for the period. Actual expenditure on materials was £20,251 and 1,540 kg were purchased. What must be the standard cost per kg?

£13.15
£13.50
£12.50
£13.80

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