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Standard Price of Raw material: Rs. 2/- per kg
Actual Price of Raw Material: Rs. 3/- per kg.
Actual quantity of Raw material consumed: 100 kg
Standard Quantity of Raw material: 80 kg.
The Material Cost Variance will be:
Rs 140 favorable
Rs. 150 Adverse
Rs. 140 adverse
Rs. 160 adverse
Material Cost Variance (MCV)= (Standard Price x Standard Quantity) – (Actual Price x Actual Quantity)
In given problem, MCV= (2 x 80) – (3 x 100) = 140 (adverse)
By: Vikas Goyal ProfileResourcesReport error
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