Reference no: EM132510220

For production of one unit of a product, standard quantity and standard price of raw material are as follows.

MATERIAL            QUANTITY                 SELLING PRICE

material P           2kg sh.                      3 per kg

material q            4kg sh.                      2 per kg

The active production and relevant data are as follows; output 500 units.

MATERIAL                     QUANTITY                  TOTAL COST

P                           1,100 KG Sh.                    3,400

q                          1,800 KG Sh.                 3,960

REQUIRED;

Question 1: Calculate various material cost variances.