The following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours) 4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units Actual inputs were as follows: Material 6000 Kgs £100,000 Labour 3800 hours £70,000 A0. What is Material Price Variance? Choose one from the following: A. £10,000 Favourable B. £10,000 Unfavourable C. £15,000 Favourable D. £15,000 Unfavourable
The following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours) 4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units Actual inputs were as follows: Material 6000 Kgs £100,000 Labour 3800 hours £70,000 A0. What is Material Price Variance? Choose one from the following: A. £10,000 Favourable B. £10,000 Unfavourable C. £15,000 Favourable D. £15,000 Unfavourable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information relates to product A:
|
Quantity |
Unit Price |
Cost Per Unit |
||
|
Material (kg) |
5 |
£15 |
£75 |
|
|
Labour (hours) |
4 |
£20 |
£80 |
|
|
Budgeted production |
1250 |
Units |
||
|
Actual production |
1000 |
Units |
||
|
|
||||
|
Actual inputs were as follows: |
||||
|
Material |
6000 |
Kgs |
£100,000 |
|
|
Labour |
3800 |
hours |
£70,000 |
A0. What is Material Price Variance?
Choose one from the following:
| A. |
|
|||
| B. |
|
|||
| C. |
|
|||
| D. |
|
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