Q3 A company manufactured 30,000 units during the year 2017 by consuming 66,000 kg of raw material which was purchased at OMR 2 per kg. The engineering section of the company had estimated 2 kg of raw material for a unit output. The standard price of the raw material was fixed for OMR 3.00 per kg. Calculate material variances.

Q3 A company manufactured 30,000 units during the year 2017 by consuming 66,000 kg of raw material which was purchased at OMR 2 per kg. The engineering section of the company had estimated 2 kg of raw material for a unit output. The standard price of the raw material was fixed for OMR 3.00 per kg. Calculate material variances.

Name: Q3 A company manufactured 30,000 units during the year 2017 by consum
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Description: Q3 A company manufactured 30,000 units during the year 2017 by consuming 66,000 kgof raw material which was purchased at OMR 2 per kg. The engineering sectionof the company had estimated 2 kg of raw material for a unit output. The standardprice of t

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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