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In a factory where standard costing system is followed, the production department consumed 1100 kgs of a material @ ?8 per kg for product X resulting in material price variance of ?2200 (Fav) and material usage variance of ?1000 (Adv). What is the standard material cost of actual production of product X?

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Syllabus (with weightage)
A. Cost Management 20%
B. Strategic Cost Management Tools and Techniques 50%
C. Strategic Cost Management - Application of Statistical Techniques in Business Decisions 30%

Related Test: CMA Intermediate Exam: Cost and Management Accounting


In a factory where standard costing system is followed, the production department consumed 1100 kgs of a material @ ?8 per kg for product X resulting in material price variance of ?2200 (Fav) and material usage variance of ?1000 (Adv). What is the standard material cost of actual production of product X?






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