From the following particulars, calculate the following material variances and give their relationships (a) Material cost variance (b) Material usage variance (c) Material price variance

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter13: Budgeting And Standard Costs
Section: Chapter Questions
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From the following particulars, calculate the following material variances and give their relationships:
(a) Material cost variance
(b) Material usage variance
(c) Material price variance
(d) Material mix variance
(e) Material quantity of sub-usage variance
(f) Material Standard
Actual
Quantity Kgs. price $.
Quantity Kgs.
price
$.
A
10
8
10
7
B
8
6
9
7
C
4
12
5
11
22
24
Transcribed Image Text:From the following particulars, calculate the following material variances and give their relationships: (a) Material cost variance (b) Material usage variance (c) Material price variance (d) Material mix variance (e) Material quantity of sub-usage variance (f) Material Standard Actual Quantity Kgs. price $. Quantity Kgs. price $. A 10 8 10 7 B 8 6 9 7 C 4 12 5 11 22 24
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