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Hi,
I have a question relating to the calculating total material price variance. As my solution is calculate the standard cost for one cake which is $0.302 then multiply with the actual production 60000 cakes and then compare with the actual price. However, the result is different from the answer where each of the material variance is calculated seperately.
I wonder what causes this difference? Is it because of the normal and actual loss?
Thank you so muchOh nvm I have realized that what I did was to calculate the total material variance and not material price particularly 🙂 Everything is fine now 🙂
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