The standard cost card shows the following details relating to material requirements for production one kg of groundnut oil : Quantity of groundnut 3 kg. Price of groundnut ₹1.50 per kg. Actual production data are: Produ
CS Executive · Cost and Management Accounting · PYQS · June 2017
The standard cost card shows the following details relating to material requirements for production one kg of groundnut oil : Quantity of groundnut 3 kg. Price of groundnut ₹1.50 per kg. Actual production data are: Production during the month 1,000 kg. Quantity used 3,500 kg. Price of groundnut ₹2.00 per kg. Material cost variance will be :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Standard Costing
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