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QUESTION ONE
The standard quantity and standard price of raw material required to produce one unit of \(Z\) are given as follows:
\begin{tabular}{llrr} & \multicolumn{2}{l}{Quantity [tex]$\quad$[/tex] Standard Price} & Total Cost \\ Material A & [tex]$3 \text{ kg}$[/tex] & TZS [tex]$4,000 /=$[/tex] per kg & TZS [tex]$12,000 /=$[/tex] \\ Material B & [tex]$5 \text{ kg}$[/tex] & TZS [tex]$3,000 /=$[/tex] per kg & TZS [tex]$15,000 /=$[/tex] \\ Total & [tex]$8 \text{ kg}$[/tex] & & TZS [tex]$27,000 /=$[/tex] \end{tabular}
The actual production and related data for producing an output of 500 units of product \(Z\) are as follows:
\begin{tabular}{lccc} & Total Quantity & Actual Price & Total Cost \\ Material A & [tex]$1,600 \text{ kg}$[/tex] & TZS [tex]$4,300 /=$[/tex] per kg & TZS [tex]$6,880,000 /=$[/tex] \\ Material B & [tex]$2,400 \text{ kg}$[/tex] & TZS [tex]$3,100 /=$[/tex] per kg & TZS [tex]$7,440,000 /=$[/tex] \end{tabular}
Required: Calculate
a) Material Cost Variance (MCV) b) Material Price Variance (MPV) c) Material Quantity Variance (MQV)
[tex]\[ \text{Total Marks: 10} \][/tex]
Sagot :
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