Standard set for material consumption was 100 kg. @ ₹2.25 per kg. In a cost period opening stock was 100 kg. @ ₹2.25 per kg. Purchase made 500 kg. @ ₹2.15 kg. Consumption 110 kg. The material price variance will be :
CS Executive · Cost and Management Accounting · PYQS · June 2017
Standard set for material consumption was 100 kg. @ ₹2.25 per kg. In a cost period opening stock was 100 kg. @ ₹2.25 per kg. Purchase made 500 kg. @ ₹2.15 kg. Consumption 110 kg. The material price variance will be :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Standard Costing
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