Solution-What was the actual cost of the materials for the

What was the actual cost of the materials for the period

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Reference no: EM132465165

A company uses a standard costing system and the standard materials cost per unit of their product is £20. The actual level of production of this product for a period was 3,200 units.

The company recorded the following variances during the period:

Material price variance: £500 favourable

Material usage variance: £1,500 favourable

Question 1: What was the actual cost of the materials for the period?

Question 2: Calculate your answer to the nearest whole £ and enter it in the blank space provided.

Answer the question by providing the appropriate number in the box below (e.g., 123456). Do not enter a dot, commas, spaces, letters, words or symbols (such as £). Failure to follow these instructions will result in the answer being marked as incorrect.

Reference no: EM132465165

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What was the actual cost of the materials for the period

Reference no: EM132465165

Reference no: EM132465165

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