Answers
Answers
- Material Price Variance
--On basis of qty purchased
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 3.00 | - | $ 2.90 | ) | x | 10800 |
1080 | ||||||
Variance | $ 1,080.00 | Favourable-F |
--On basis of qty used
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 3.00 | - | $ 2.90 | ) | x | 9720 |
972 | ||||||
Variance | $ 972.00 | Favourable-F |
- Material Quantity Variance
Material Quantity Variance | ||||||
( | Standard Quantity = 1080 units x 5.6 pounds | - | Actual Quantity used | ) | x | Standard Rate |
( | 6048 | - | 9720 | ) | x | $ 3.00 |
-11016 | ||||||
Variance | $ 11,016.00 | Unfavourable-U |
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