QUESTION THREE marks
i From the following particulars, compute
a Material Cost Variance, mks
b Material Price Variance, mks
c Material Usage Variance mks
Standard Quantity of Raw material required kg
Estimated Cost of Raw material required sh
Actual quantity of Raw material consumed kg
Actual cost of Raw material consumed sh
ii A product passes through three processes. The output of each process is treated as the raw material of the next process to which it is transferred and output of the third process is transferred to finished stock.
st Process shsnd Process shsrd Process shs
Materials issued
Labour
Manufacturing overhead
units have been issued to the st process and after processing, the output of each process is as under:
Output Normal Loss
st Process units
nd Process units
rd Process units
No stock of materials or of workinprogress was left at the end. Calculate the cost of the finished articles. mks
