Material mix variance = standard cost of standard mix - ………………..

Related MCQs

• Material Usage Variance=Material Mix Variance +…………..
• Labour cost variance is the difference between standard cost of labour and………..
• Material price variance is the difference between standard and actual prices of materials used multiplied by………………..
• Material usage variance = standard price(……………….)
• Total Material cost variance =
• Material Price Variance = Actual Usage (……………)
• An unfavourable material price variance occurs because of:
• Total Labour cost variance =
• A company estimates its direct material requirements for the month of November 2014 to be Rs. 2,40,000 and the direct labour to be Rs. 1,500,00. It is the policy of the company to absorb overheads as under : Factory overheads 60% of direct wages Administrative overheads 20% of work cost Selling and distribution overheads 25% of work cost it is estimated that the selling and distribution overheads will increase by 15% in November the budgeted sales for the month of November 2014 is
• ………….is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory