Calculate material-usage variance
Question:
From the following information, calculate:
1. Material-cost variance
2. Material-usage variance and
3. Material-price variance separately for X and Y
Material
Std. Qty (kg)
Price
Actual Qty (kg)
X
Y
10 15
4 5
12 18
3.75 4.50
22
30
Expected delivery within 24 Hours
Compute the price per dollar of par paid by noncompetitive bidders with a one-price auction
The manager of furniture manufacturing plant hopes to achieve a better allocation of inventory control efforts by adopting an ABC approach to inventory control.
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From the following information, calculate: Material-cost variance. Material-usage variance and . Material-price variance separately for X and Y
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