Start learning 50% faster. Sign in now
Material Cost Variance (MCV) = (Standard Price × Standard Quantity) – (Actual Price × Actual Quantity) ________________________________________ Given: • Standard cost per unit = ₹10 • Actual cost per unit = ₹12 • Actual quantity of material used = 1,000 units • Actual output produced = 950 units Assume 1 unit of output requires 1 unit of material (standard quantity = 950 units for 950 units output). ________________________________________ Step-by-step calculation: •Standard Cost = ₹10 × 950 units = ₹9,500 •Actual Cost = ₹12 × 1,000 units = ₹12,000 ________________________________________ Material Cost Variance (MCV): MCV=₹9,500−₹12,000=−₹2,500
The process of loss of water from plant is
Drip irrigation is most suited to:
Aroma in Onion is due to the presence of
Lt. Col. Albert Mayer started a project called:
Which of the following is not a factor of production?
Which one of the following element is an important constituent of chlorophyll?
The Book "Wealth of Nations" written by
ICAR- Indian Institute of Rice Research is situated at
What treatment is recommended for controlling external parasites like gill flukes in fish?
Site of protein synthesis in a cell is