While calculating material mix variance, if revised standard quantity is greater than actual quantity, the variance is

Related MCQs

• In a manufacturing firm, the standard quantity of material was set at 10 kg and standard price was fixed at Rs. 2 per kg. The actual quantity consumed was 12 kg and the actual price paid was Rs 1.90 per kg. Determine material usage variance.
• Given standard time per unit is 80 hours, standard time per hour @ Rs 1 per hour, actual time per unit is 90 hours and actual rate per hour @ Rs 1.10 per hour. Determine labour cost variance, labour rate variance and labour efficiency variance.
• The data related to Production of T are for material X standard data and actual data are 40 kgs @ Rs 10 and 55 kgs @ Rs 9, respectively. The standard data and actual data for material Y are 50 kgs @ Rs 5 and 35 kgs @ Rs 7. Determine material usage variance.
• Labour Efficiency Variance is the sum total of I)Labour Mix variance II)Labour Cost Variance III)Idle time Variance IV)Labour yield variance
• Material price, mix, usage and revised quantity variances are measured on _______ basis, whereas material yield variance is measured on _______ basis.
• The sub-variance of material usage variance, known as Material mix variance is measured as
• Match the columns (i) Activity Ratio -------------------- i) (Actual hours worked / Budgeted hours) * 100 (ii) Capacity Ratio ------------------ ii) (Standard hours of actual production / Actual hours worked) * 100 (iii) Efficiency Ratio ----------------- iii) (Standard hours for actual output / Budgeted hours) * 100
• Total Actual material is 1250 Kg.The Standard qty of Material A=800Kg and B=400Kg.What is the revised Std qty of A and B respectively.
• Total Actual material is 1250 Kg.The Standard qty of Material A=800Kg and B=400Kg.What is the revised Std qty of A and B respectively.
• XYZ factory working for 50 hours per week employs hundred workers on a job work. The standard output is 200 units per gang hour and standard rate is Rs 1 per hour. During a week in June, five employees were paid @ Rs 1.20 per hour and ten employees were paid @ 80 paise per hour. Rest of the employees were paid @ standard hour rate. The actual number of units produced was 10,200. Determine labour cost variance