Determine the material price variance, Marketing Management

Assignment Help:

Question:

The Kaiserburger fast-food operates to the following pre-determined standards:

Raw material 50 kg @2.5 125
Direct labour 14 hrs @ 4.75 66.50

The Actual results are as follows:

Production                                   150 units
Direct material purchased            7,000 kg @ a cost of Rs 18,200
Opening stock direct materials    1,300 kg
Closing stock direct materials      850 kg
Wages paid for 2020 hrs             Rs 9898

Required:

(a) Determine the following variances:
(i) Material price variance
(ii) Material usage variance
(iii) Labour rate variance
(iv) Labour efficiency variance

Briefly describe three causes for each why material price variance and labour rate variance occur.


Related Discussions:- Determine the material price variance

Five factors that can influence an individual, Name FIVE factors that can i...

Name FIVE factors that can influence an individual when deciding whether or not to purchase a product. The degree to which the product satisfies a need or a want. The social

Explain the term open book management in shortly, Explain the term Open boo...

Explain the term Open book management in shortly. Open book management: The practice of sharing financial and performance information is frequently considered to as open

Responsibility of marketing communications manager, Responsibility of marke...

Responsibility of marketing communications manager Tasks are undertaken in a context within which there may be many episodes or only a few. Note that more than one message is o

Size of an advertising agency, Size of an advertising agency Size:- B...

Size of an advertising agency Size:- Both large size-agencies as well as small size agencies are available each has its own merits and demerits. Large-agencies have broad ran

Various stages in the pricing of menus, Question 1: What is the Food Pr...

Question 1: What is the Food Production Cycle? Explain in detail the process of production, sales and service with regard to supervision, quality and control procedures. Qu

HENRY ASSAEL MODEL, Q-2 Explain Henry Assael Model of buying decision beh...

Q-2 Explain Henry Assael Model of buying decision behaviour along with the diagram”.

Suman, Discuss the Henry Assael model on buying decision behaviour.

Discuss the Henry Assael model on buying decision behaviour.

Chord of Curvature, Definition: If C be the circle of curvature at any poin...

Definition: If C be the circle of curvature at any point P on a curve, then a chord of C through P in a given direction is called the chord of curvature in that direction. The Len

Marketing, Read the journal article Lafferty, B. A., & Hult, G. T. M. (2001...

Read the journal article Lafferty, B. A., & Hult, G. T. M. (2001) ‘A synthesis of contemporary market orientation perspectives’, European Journal of Marketing, 35 (1/2), pp. 92–109

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd