Answer the following: (A) Following are the details of the product Phomex for the month...
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Accounting
Answer the following: (A) Following are the details of the product Phomex for the month of April 2013: Standard quality of material required per unit 5 Kg Actual output 1000 units Actual cost of materials used Rs. 7,14,000 Material price variance Rs. 51,000 (Fav) You are required to calculate: i. Actual quantity and Actual price of materials used ii. Material Usage Variance iii. Material Cost Variance
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