Budgeting AAT AQ2013 sample assessment 2 Task 6 (b)
Canuck74
Registered Posts: 8 New contributor 🐸
I can't figure out how the Material price and Material usage was calculated.
I was able to calculate the Standard raw material cost of production 94500/63000= 1.50 1.50*65000= 97,500
Activity data Items produced Kg used Cost
Budget 63,000 31,500 94,500
Actual results 65,000 33,500 99,000
The answer for the Material price variance: 1,500 and for the Material usage variance is -3,000
I was able to calculate the Standard raw material cost of production 94500/63000= 1.50 1.50*65000= 97,500
Activity data Items produced Kg used Cost
Budget 63,000 31,500 94,500
Actual results 65,000 33,500 99,000
The answer for the Material price variance: 1,500 and for the Material usage variance is -3,000
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Canuck74
I am happy to look at this question for you.
I do not have access to the sample assessments.
If you would like my opinion please screen shot the question or do something similar and attach it to an email to sandy@sandyhood.com
SandySandy
sandy@sandyhood.com
www.sandyhood.com0
