The standard cost of a compound mixture is as under:
30% of material A at Rs.25 per ton. 70% of material B at Rs.35 per ton.
A standard loss of 10% is expected in production. The following actual cost data is given for the period.
290 tons material A at a cost of Rs.20 per ton.
210 tons material B at a cost of Rs.25 per ton.
The weight produced is 400 ton.
Find Material variances
| Actual cost of material used | Stanadard cost material used | Standard cost of material, if it had been used in standard proportions. | |||
| 290*20 = | 5800 | 290*25 = | 7250 | 30% of 500 * 25 = | 3750 |
| 210*25 = | 5250 | 210*35 = | 7350 | 70% of 500 * 35 = | 12250 |
| | 11050 | | 14600 | | 16000 |
| Standard cost of output. | |
| | |
| | |
| 3200/90*400= | 14222 |
| Standard cost of output | ||
| Standard Mix | Standard rate | Standard cost |
| 30 | 25 | 750 |
| 70 | 35 | 2450 |
| -10 | LOSS | |
| 90 | | 3200 |
| | | |
| Material price variance | 14600-11050= | 3550 |
| Material mix variance | 16000-14600= | 1400 |
| Material yield variance | 14222-16000= | -1778 |
| Material cost variance | 14222-11050= | 3172 |
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