Question
A company expected material cost to be ₹50 per unit
for 1,000 units. Actual cost was ₹55 per unit for 950 units. What is the material cost variance?Solution
Standard cost = 1,000 × ₹50 = ₹50,000 Actual cost = 950 × ₹55 = ₹52,250 Variance = ₹50,000 – ₹52,250 = ₹2,250 (A)
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