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Standard costing

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Standard Costing
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Objectives of Standard Costing ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Types of Standards ,[object Object],[object Object]
[object Object],[object Object]
[object Object],[object Object]
Establishing Cost Standards ,[object Object],[object Object],[object Object],[object Object]
Variance Analysis ,[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Material Cost Variance ,[object Object],[object Object]
Material Price Variance ,[object Object]
Material Usage Variance ,[object Object],[object Object],[object Object],[object Object]
Material Mix Variance ,[object Object],[object Object],[object Object],[object Object]
Material Yield Variance ,[object Object]
[object Object],[object Object],[object Object]
[object Object],[object Object]
From the following data compute the material cost variance: Material Standard Actual Qty Price Qty Price (Units) (Rs.) (Units) (Rs.) X 3,500 10 3,700 12 Y 1,500 21 1,650 20 Z 1,000 33 1,250 36

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Standard costing

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  • 19. From the following data compute the material cost variance: Material Standard Actual Qty Price Qty Price (Units) (Rs.) (Units) (Rs.) X 3,500 10 3,700 12 Y 1,500 21 1,650 20 Z 1,000 33 1,250 36