Practice Assesment 1 Question 2
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KAF
Registered Posts: 32
Could somone help me with B and C please?
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b) Standard cost = 2*950*18 =34,200 Standard hours @ standard cost - actual hours @ standard cost = -180
Actual hours @ standard cost = 34200+180 = 34,380
Total hours use = 34380 /18 = 1,910
c) 1140*7.80 - 1140* P = -912 Standard price for material used - Actual price for material used = price variance
P = 912/1140 +7.8
P = £8.60
Fairly certain that this is what you need to do. I don't use variances in my day to day so might have muddled something upAAT Level 4, MAAT
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