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Standard Costing Examples

Standard Costing Examples

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Published by Muhammad azeem

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Published by: Muhammad azeem on Nov 25, 2009
Copyright:Attribution Non-commercial

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12/26/2012

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# Standard qty at std mix# Actual qty at actual mix# Actual qty at std mix
Material Price Variance:
Material Rate DifferenceStd ActualGum Base 0.25 0.24 0.01 FavCorn Syrup 0.40 0.42 0.02 UFSugar 0.10 0.11 0.01 UF
Material Mix Variance:MMV = (Difference b/w Actual qty at actual mix and actual qty at std mix)
Material Actual Qty Std. Mixing Actual Qty Varianceat actual mix Ratio at Std. MixGum Base 157,000 0.6667 154,000 3,000Corn Syrup 38,000 0.1667 38,500 500Sugar 36,000 0.1667 38,500 2,500231,000 1 231,000Working no.1:
Calculation of Standard Mixing Ratio:
Material Qty Std.MixGum Base 800 0.6667
 
Corn Syrup 200 0.1667Sugar 200 0.16671,200 1Working no.2:
Calculation of actual quantity at actual mix:
Material Opening Purchase Closing Actual Qty
 
 Stock Stock usedGum Base 10,000 162,000 15,000 157,000Corn Syrup 12,000 30,000 4,000 38,000Sugar 15,000 32,000 11,000 36,000Actual Quantity used at 231,000Actual mixing ratio
Material Yeild Variance:
Actual material input 231,000Expected yeild 0.8333Output ?Expected yeild = Output / input0.8333 = Output / 231,000Output = 192,500 Std, Output200,000 Actual output7,500 Yeild - Fav0.30 Std. Material output rate2,250 Material yeild variance (Fav)
 
Actual MPVQty162,000 ### Fav30,000 600.00 UF32,000 320.00 UFMPV 700.00 Fav
std rate
Std. MaterialRate Mix VarianceUF 0.25 750 UFFav 0.40 200 FavFav 0.10 250 Fav300 UF

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