Homework Answers
Actual ounces used = 2700000 ounces
|
Material Quantity Variance |
||||||
|
( |
Standard Quantity |
- |
Actual Quantity |
) |
x |
Standard Rate |
|
( |
2600000 |
- |
2700000 |
) |
x |
$ 0.50 |
|
-50000 |
||||||
|
Variance |
$ 50,000.00 |
Unfavourable-U |
||||
MQV= (SQ-AQ) x SR
-50000=(2600000-AQ) x 0.50
-50000= (1300000-0.50AQ)
(1300000+50000)=0.50AQ
AQ=1350000/0.50
AQ=2700000
.
Where AQ= Actual Quantity
SR= Standard rate
SQ=Standard quantity
And
MQV = material quantity variance
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