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Calculate the material cost variance

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Reference no: EM132953432

Question - The standard cost card shows the following details relating to material needed to produce 1kg of sunflower oil: Quantity of sunflower oil required: 3kg Price of sunflower oil: € 2.5/kg Actual production data: Production during the month: 1,000 kg Quantity of material used: 3,500 kg Price of sunflower oil: € 3/kg You are required to a) Calculate the material cost variance b) Calculate the material price variance c) Material usage variance.

Reference no: EM132953432

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