The following details were extracted from the standard cost card of a component: Raw materials:...
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The following details were extracted from the standard cost card of a component: Raw materials: 2 Kgs @ $4 per Kg Direct labour: 4.75 hrs @ $6 per hour During the period, actual results were as follows: Production- 2,000 components. Direct material purchase and usage- 4,000 Kgs at a cost of $20,000. Wage Paid: (9,800 hrs) $59,000 What is the Material Price Variance? Question 17Select one: A. 0 (Neither Favourable or Adverse) B. 1,000 (Favourable) C. 2,000 (Adverse) D. 4,000 (Adverse)
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