F2 Mock Exam

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June 4, 2014 at 9:24 pm #173985
Roisin
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Section B question 2A What is the materials Pirce Variance.

Actual Cost $108,000
Standard Cost of 24000m x $5 =$120,000

Variance is $12,000 favorable. Why is this incorrect? It indicates the answer should be $12,000 adverse.
Thanks!
June 5, 2014 at 9:48 am #174125
John Moffat
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You are correct – it should be favourable.

Sorry 🙁
I will have it corrected.
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