A fertilizer manufacturing company manufactures and markets a chemical fertilizer by blending three raw materials N, P and K. The standard loss permitted for the process is 10%. During the year 2012, the company produced
CS Executive · Cost and Management Accounting · PYQS · December 2013
A fertilizer manufacturing company manufactures and markets a chemical fertilizer by blending three raw materials N, P and K. The standard loss permitted for the process is 10%. During the year 2012, the company produced 9,500 units of the fertilizer using a total material of 9,800 Kgs. Standard and actual mix of material was as under: Material Standard Actual Mix(%) Price/Kg. (₹) Mix(%) Price/Kg. (₹) N 40 30 50 35 P 40 20 30 15 K 20 40 20 45 From the above information, compute (ii) Material price variance
Topics: Standard Costing
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