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  3. the following information is available for a parti

The following information is available for a particular product : \table[[Standard output,1000 units],[Standard quantity,5...

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Accounting

The following information is available for a particular product :
\table[[Standard output,1000 units],[Standard quantity,5 Kgs. Per unit],[Standard rate,Rs.3 per Kg.],[Actual output,900 units],[Actual quantity used,5000 Kgs.],[Actual rate paid,Rs.5 per unit]]
Compute the material cost variance and material price variance
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