If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be

Related MCQs

• 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
• Labour Efficiency Variance is the sum total of I)Labour Mix variance II)Labour Cost Variance III)Idle time Variance IV)Labour yield variance
• 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.
• While calculating material mix variance, if revised standard quantity is greater than actual quantity, the variance is
• A Company has a material standard of 1 kg. per unit of output. Each kg. has a standard price of Rs.25 per kg. Company paid Rs.1,27,500 for 5000 kg., which they used to produce 4,700 units. What is the direct material price variance?
• If the actual output is more than the budgeted output, volume variance is
• 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
• The sub-variance of material usage variance, known as Material mix variance is measured as
• Company has a material standard of 1.1 kg. per unit of output. Each kg. has a standard price of Rs.25 per. Company paid Rs.1,18,800? for 5,100 kg. which they used to produce 4,900 units. What is the direct materials quantity variance?