Reference no: EM132547674

Question - Pizza Maniac had 200,000 grams of cheese in their beginning raw materials inventory in January, and during the month they additionally purchased 500,000 grams of cheese for Tk. 350,000 (purchase price of the cheese in beginning inventory was same in per gram basis). At the end of January, 100,000 grams of cheese were left in ending raw materials inventory. That month, they manufactured 1875 units of pizza. According to the standards set for their business, each unit of pizza should require 250 grams of cheese, and each gram of cheese should cost Tk. 1.25. Calculate the price and quantity variances for cheese. Show your work in the 'three-column format'.